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Raymond reports Q3 net profit at Rs 31 crore

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Textile major  has reported a consolidated net profit at Rs 30.71 crore for the quarter ended December 2017.

Raymond reports Q3 net profit at Rs 31 crore
Raymond has reported a consolidated net profit at Rs 30.71 crore for the quarter ended December 2017

The company had posted a net loss of Rs 14.69 crore during the October-December quarter of the previous fiscal, Raymond Ltd said in a regulatory filing as per a PTI report.

Its net profit in the July-September quarter stood at Rs 62.24 crore.

Total income during the quarter under review grew 13.74 per cent at Rs 1,513.55 crore. It was Rs 1,330.71 crore in the year-ago period.

“A seasonally strong quarter is a reflection of buoyancy in the group led by strong revenue growth across all our business and further catapulted by the successful turnaround of our engineering business,” Raymond Ltd Chairman and Managing Director  said.

The company said consolidated EBIDTA for the quarter was up by 59 per cent year-on-year to Rs 131 crore and margin improved by 246 bps.

Raymond Ltd stock closed 0.24 per cent down at Rs 1,123.55 apiece on BSE today.