Raymond's Q4 Net Profit Drops 15 pc to Rs 58 cr

Raymond Ltd has posted a 15.5 percent decline in consolidated net profit to Rs 58.36 crore for the fourth quarter ended March 2021. It had reported a net profit of Rs 69.10 crore during the January-March period of the previous fiscal.

However, Raymond’s total income was up 9.03 percent to Rs 1,407.45 crore as against Rs 1,290.87 crore in the corresponding period of the previous fiscal.

Gautam Hari Singhania, Chairman and Managing Director, Raymond, said, “The quarter witnessed topline growth mainly driven by Branded Textile along with strong momentum maintained in Engineering and Real Estate businesses and overall higher profit margins, led by focused efforts on reducing operational costs.”

The company's total expenses were at Rs 1,342.31 crore, down 6.96 percent from Rs 1,442.80 crore in Q4 FY 2019-20. Its revenue from textiles climbed 24.09 percent to Rs 722.10 crore as against Rs 581.90 crore earlier.

Revenue from the shirting segment was up 12.2 percent to Rs 133.17 crore from Rs 118.69 crore. However, apparel revenue dropped 39.5 percent to Rs 174.96 crore as against Rs 289.27 crore.

Raymond reported a net loss of Rs 303.65 crore for the fiscal year 2020-21. It had posted a net profit of Rs 201.76 crore in the previous year. Total income for the entire fiscal dropped 44.5 percent to Rs 3,647.83 crore.