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Raymond foregather a profit of Rs 56 crore in Q2

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Raymond, an Indian branded and fashion retailer, has declared a consolidated net profit of Rs.56.51 crore in the second quarter of the year ended in September 2021. Last year, the company had a net loss of Rs.136.59 crore in the July-September quarter.

The expenses in this quarter stood at Rs.1,488 crore as compared to last year which was at Rs.942 crore. Gautam Hari Singhania Raymond Chairman, Managing Director commented on the Q2 results, “All our businesses have performed well in the second quarter. The consumer-facing businesses are witnessing a strong resurgence of demand and we witnessed an uptick on a week-on-week basis during the quarter. With the onset of the festive and wedding season, the consumer sentiment is upbeat primarily due to the large-scale vaccination drive across the country.”

He also added “With the opening of the global economy, there is an impetus on our garments export business that continues to perform well with a healthy order book. With festive and wedding season buoyancy in H2 of this financial year, we are optimistic that the industry is on track for a strong revivall.”

Raymond Ltd ended this quarter with a total of 1,200 stores across different formats. Now, the brand sells its products through websites and e-commerce platforms.

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