Raymond net profit rises by 24%

Tuesday, 08 November 2011

The consolidated net profit of Raymond surged 24 per cent to Rs 81 crores for quarter ending September 2011, backed by strong performance across businesses. The textile segment (standalone) sales for the quarter ended September 30, 2011, registered an increase of 26 per cent to Rs 497 crores on the back of both higher realisations and volume growth. It reported earnings before interest and tax of Rs 97 crores, which is up by 8 per cent as compared to the corresponding quarter of previous year.

The branded apparel business witnessed a 29 per cent increase in quarterly sales to Rs 220 crores and EBITDA of Rs 41 crores for the quarter, which was higher by 112 per cent compared to the corresponding quarter in the previous year. The business has witnessed strong growth across all its core brands. Like-to-like store sales growth for the quarter has been 6 per cent. The Indian operations of denim business have witnessed a 31 per cent sales growth during the quarter backed by 33 per cent realization growth to Rs 191 crore, while EBITDA stood at Rs 20 crore during the quarter, which is higher by 5 per cent compared to the corresponding quarter of the previous year.

Raymond continues to operate one of the largest specialty retail networks in India in the textile and apparel space with 762 retail stores covering over 1.54 million sq. ft. of retail space including 41 stores in Middle East and SAARC region.

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