Profit growth spiked up

Raymond announces its FY12 results.

Raymond Ltd has announced its audited financial results for the quarter and year ended March 31st 2012.  The Textile segment (standalone) sales for the quarter ended 31st match 2012 witnessed an increase of 24% at Rs 510cr on back of both higher realisation and volume growth.

The branded apparel business sales stood at Rs 165cr up by 12% and reported loss of Rs15cr primarily due extended end of season sales. The high value shirting business sales were down by 12% at Rs56cr, while the denim business witnessed growth of 13% at Rs 187cr. Announcing the results, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “the financial year has been a combination of two extremes with the first half witnessing buoyant consumer sentiment while the second half witnessed a dip in sentiment. However, our pioneering strategies in branded fabric and apparel retailing has made it possible to withstand the downturn by providing access to our innovative products and dressing solutions to consumers across India’s large and small towns”. The margins have been improved due to correction in prices of cotton.

Raymond's retail network crossed the 850 stores mark, the store count as on 31st March 2012, stood at 853 across formats including 39 stores in Middle East, SAARC region covering over 1.6 million sqft of retail space.