Business Daily from THE HINDU group of publications
Wednesday, Nov 01, 2006
ePaper
Business Daily from THE HINDU group of publications Wednesday, Nov 01, 2006 ePaper |
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Corporate Results
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Diversified Raymond reports higher net, sales Our Bureau
Mumbai , Oct. 31 Raymond Ltd has posted 2.5 per cent increase in net sales to Rs 358.62 crore (Rs 349.66 crore) for the second quarter ended September. Net profit after tax stood at Rs 141.47 crore (Rs 36.83 crore) and includes the proceeds of Rs 87.10 crore from divestment of the denim division. The results of the company for the quarter include the working of the denim division for only one month of the quarter. "The company posted good growth in the textile and files & tools businesses although the overall growth in the second quarter was marginal due to transfer of the denim business to the joint venture," said Mr P.K. Bhandari, Group President & Wholetime Director. Sales of the textile division registered growth of 18 per cent to Rs 286.29 crore (Rs 242.56 crore) while that of the files & tools division rose 12.65 per cent to Rs 43 crore (Rs 38.17 crore). "The company will maintain its growth momentum through continued thrust on existing businesses and expansion of business portfolio," said Mr Gautam Hari Singhania, Chairman and Managing Director. Shares of the company rose 1.06 per cent to close at Rs 458.65 on the BSE on Tuesday.
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