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Soymeal

India’s soymeal exports are seen at more than five million tonnes (MT) in 2011-12,...

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Raymond Q2 net up 23.41% at Rs80.96 crore

Textile major Raymond has posted a 23.41% increase in consolidated net profit at Rs80.96 crore in the second quarter ended September 30, 2011.

Raymond had a net profit of Rs80.96 crore in the quarter ended September 30, 2011, compared to Rs65.60 crore in the same period in the previous year.

During the quarter under review, the firm's net sales rose by 24.95% to Rs977.92 crore from Rs782.60 crore in the year-ago period.

On a standalone basis, Raymond's net profit during the quarter declined by 7.6% at Rs36.22 crore from Rs39.18 crore recorded in the year-ago period.

The company's net sales stood at Rs498.46 crore, which is 26.23% increase from Rs394.86 crore in the corresponding quarter last fiscal.

The textile segment standalone quarterly sales registered an increase of 26% to Rs497crore on the back of higher realizations and volume growth. The branded apparel business witnessed a 29% increase in quarterly sales to Rs220 crore. The business has had strong growth across all its brands.

Announcing the results, Gautam Hari Singhania, CMD, Raymond Limited said, “We have completed half year of the 2011-12 financial year on a positive note. This has been possible due to the strong portfolio of our own core brands, our product quality and deep distribution network that spreads across the length and breadth of the country. We are extremely encouraged by the response of our consumers and we will take this momentum going forward into the future as well.”

In the morning, Raymond was trading at around Rs358.50 per share on the Bombay Stock Exchange, 3.22% up from the previous close.

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