Raymond reports positive financial performance in Q2

 Diversified group Raymond has reported a 4.75 per cent increase in consolidated net profit to Rs 65.20 crore for the second quarter ended September 2018. The company had posted a net profit of Rs 62.24 crore in the July-September period a year ago, Raymond said in a filing to the BSE. 

Its total income during the quarter under review rose 16.04 per cent to Rs 1,875.70 crore as against Rs 1,616.39 crore in the corresponding period of the previous fiscal. Total expenses stood at Rs 1,771.77 crore, compared to Rs 1,542.45 crore earlier, up 14.86 per cent. 

Raymond Chairman and Managing Director Gautam Hari Singhania said: "The initiatives that we have undertaken in recent past are yielding strong results and with seasonally strong quarters coming in, we are confident to continue on the growth trajectory, enhancing value for all our stake holders." 

(Source:PTI)