Diversified group Raymond Thursday reported a 4.75 percent 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.
According to a PTI report: Its total income during the quarter under review rose 16.04 percent 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 percent.
Gautam Hari Singhania, Chairman and Managing Director, Raymond was quoted by PTI as saying, “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.”
Revenue from branded textile was at Rs 884 crore, higher by 15 per cent over the previous year “led by 14 percent growth in the suiting business and 17 percent in the shirting business”.
Branded apparel segment sales was at Rs 484 crore, up by 15 percent, driven by strong performance in MBO channel along with growth in Raymond and Parx brands supported by new customer segments.