Raymond Q3 profit jumps 30 percent to Rs 40 crore

By

Maverick Martins

Published
Jan 24, 2019

Textiles and apparel conglomerate Raymond Limited witnessed a 30 percent rise in net profit to Rs 40 crore ($5.6 million) for the third quarter ended December 2018 as compared to the Rs 31 crore it posted during the October-December period a year ago.
 

The company’s revenue during the period also jumped 13 percent to Rs 1,706 crore.
 
Textiles and apparel segments were the major contributors to the company’s overall revenue adding Rs 848 crore and 397 crore respectively. The company’s shirting and garments business also contributed significantly with Rs 159 crore and 185 crore respectively.

Raymond's total expenses during the quarter were at Rs 1,639 crore as against Rs 1,471 crore in the year-ago period.
 
Commenting on the results, Gautam Hari Singhania, chairman and managing director of Raymond Limited, in a statement said, "We are delighted to report the continued strong revenue growth across all our businesses backed by robust profitability despite challenging global business environment. As we move into the last quarter of the current fiscal, we expect to end the year on a strong and positive note with the extended wedding season.”
 
During the quarter, the company added 97 stores and ended the quarter with 1,313 retail stores across India.