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Textile company Raymond’s profit jumps 30%

Textiles and apparel conglomerate Raymond Limited witnessed a 30 percent rise in net profit at Rs. 40 crore for the third quarter ended December 2018 as compared to Rs. 31 crore year ago.

The textile company’s revenue during the period also jumped 13 percent to Rs. 1,706 crore.

Textiles and apparel segments were the major contributors to the company’s overall revenue adding Rs. 848 crore and 397 crore, respectively.

The company’s shirting and garments business also contributed significantly with Rs. 159 crore and 185 crore, respectively.

During the quarter, the company added 97 stores and ended the quarter with 1,313 retail stores across India.

Gautam Hari Singhania, CMD, Raymond Limited said, “We are delighted to report the continued strong revenue growth across all our businesses backed by robust profitability despite challenging global business environment. As we move into the last quarter of the current fiscal, we expect to end the year on a strong and positive note with the extended wedding season.”

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