Raymond's Q3 net profit touches Rs 31 cr

Textile major Raymond has reported a consolidated net profit at Rs 30.71 crore for the quarter ended December 2017. The company posted a net loss of Rs 14.69 crore during the October-December quarter of the previous fiscal, the company said in a regulatory filing.

Its net profit in the July-September quarter stood at Rs 62.24 crore. Total income during the quarter under review grew 13.74 per cent at Rs 1,513.55 crore. It was Rs 1,330.71 crore in the year-ago period. Raymond chairman and Managing Director Gautam Hari Singhania says, a seasonally strong quarter is a reflection of buoyancy in the group led by strong revenue growth across all our business and further catapulted by the successful turnaround of our engineering business. The company’s consolidated EBIDTA for the quarter was up by 59 per cent year-on-year to Rs 131 crore and margin improved by 246 bps.