Raymond Ltd reported a multifold jump in its net profit to Rs 101.07 crore for the third quarter ended in December 2021.
The company had posted a net profit of Rs 22.18 crore during the October-December of the previous fiscal, Raymond said in a regulatory filing.
Its revenue from operations was up 48.25 percent to Rs 1,843.39 crore during the quarter under review as against Rs 1,243.44 crore in the corresponding period of the previous fiscal.
According to the company, it has reported the "highest profitable quarter in last 10 years" and its revenue is now "100 percent of pre-Covid levels".
Gautam Hari Singhania, Chairman, and Managing Director, Raymond said: "With our focused approach on capitalizing on the growing demand for our products and continued cost optimization, we delivered record profitability. We generated free cash flows to reduce debt and are progressing towards being a net debt-free business."
Raymond's total expenses were at Rs 1,685.03 crore, up 32.22 percent in Q2/FY 2021-22, as against Rs 1,274.38 crore.