Raymond records Rs 61-cr profit in Q3

Raymond has registered a net profit of Rs 61 crores in the quarter

ended December 30, against a net loss of Rs 74 crores in the same period last year. The positive result is attributed to the impressive performance of its textile division. The company’s net sales rose 12 per cent to Rs 952 crores compared to Rs 852 crores. The textile division clocked a 16 per cent increase in net sales at Rs 514 crores (against Rs 444 crored) on the back of higher volumes and better realisation.

The segment reported an EBIT of Rs 104 crores. Revenue from the garments division was lower, at Rs 273 crores (against Rs 284 crores), while that from the tools and hardware unit was down at Rs 71 crore (compared to Rs 85 crore).

Raymond’s retail network crossed the 800 mark to touch 807 stores during the quarter under review. Raymond launched 40 stores in West Asia and the SAARC region, covering over 1.6 million sq. ft. of retail space.