The consolidated net profit of Raymond Ltd surged 24 per cent to Rs 81 crore for quarter ended 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 crore on the back of both higher realisations and volume growth. The segment reported earnings before interest and tax of Rs 97 crore, 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 the quarterly sales to Rs 220 crore and EBITDA of Rs 41 crore 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.

Announcing the results, Mr Gautam Hari Singhania, Chairman and Managing Director, Raymond Limited, said half year of 2011-12 ended on a very positive note. “This has been possible due to the strong portfolio of our own core brands, our product quality and deep distribution network that spreads across the length and breadth of the country.”

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