Companies

Raymond Q4 net profit up 24.26 per cent at Rs 67.70 crore

PTI Mumbai | Updated on April 30, 2019 Published on April 30, 2019

Raymond’s net profit was up 23.47 per cent at Rs 174.77 crore as against Rs 141.55 crore in 2017-18. File photo

Total income during the fiscal was at Rs 6,707.65 crore, compared to Rs 6,024.91 crore in the previous fiscal

The Raymond Group on Tuesday reported a 24.26 per cent increase in its consolidated net profit at Rs 67.70 crore for the fourth quarter ended March 31, 2019.

It had posted a net profit of Rs 54.48 crore in the corresponding quarter a year ago, Raymond said in a statement.

Total income during the quarter under review stood at Rs 1,837.11 crore as against Rs 1,655.12 crore in the same quarter of the previous fiscal.

For the financial year ended March 31, 2019, Raymond’s net profit was up 23.47 per cent at Rs 174.77 crore as against Rs 141.55 crore in 2017-18.

Total income during the fiscal was at Rs 6,707.65 crore, compared to Rs 6,024.91 crore in the previous fiscal.

The company’s branded textile segment sales during the quarter was at Rs 832 crore, higher by four per cent over previous year led by three per cent growth in the suiting business and nine per cent growth in the shirting business.

The branded apparel segment sales during the last quarter were at Rs 489 crore, up by 21 per cent over previous year.

The retail store count in FY19 stood at 1,444 across all formats covering about 2.4 million square feet of retail space. In-line with its stated asset light network expansion strategy, the company opened 275 stores on franchisee model during the year.

Garmenting segment sales during the quarter under review were at Rs 212 crore, higher by five per cent over previous year led by exports growth in the United States (US).

High value cotton shirting segment sales were at Rs 156 crore, which grew by seven percent mainly on account of yarn sales from its Amravati plant.

The tools and hardware segment sales during the quarter were at Rs 102 crore, up by 14 per cent over previous year, mainly driven by better performance in export markets.

Auto components segment sales in the fourth quarter were at Rs 68 crore, higher by 10 per cent over previous year, driven by ramp up of volume from existing customers and supported by new customers and products.

On its real estate business, it said the project has received good response from the customers has had more than 400 bookings in the first three towers launched with a total inventory of around 850 units.

It expects to maintain a good sales velocity in the coming quarters.

Published on April 30, 2019
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