31 January 2025, Mumbai
Weak market conditions and increased expenses led to a 60.5 per cent decline in the Q3, FY25 consolidated net profit of Raymond Lifestyle. The company had registered a net profit of Rs 162.43 crore during the corresponding quarter of last year.
The brand’s revenue from operations increased to Rs 1,754.21 crore from Rs 1,726.26 crore in the same period last year. Total expenses increased to Rs 1,708.37 crore from Rs 1,546.22 crore.
The cost of materials consumed also rose to Rs 366.02 crore from Rs 339.47 crore. Sunil Kataria, Managing Director, Raymond Lifestyle, states, Q3 FY25 was a challenging quarter for the company. However, despite weaker market conditions, it was able to achieve a low single-digit revenue growth.
The company's revenue from the branded textile segment declined by 6 per cent to Rs 856 crore from Rs 909 crore in Q3 FY24 due to weaker consumer demand. Conversely, branded apparel segment revenue increased to Rs 458 crore (from Rs 437 crore) due to new product launches despite challenging market conditions.
Revenue from the garmenting segment increased to Rs 309 crore while that from the high-value cotton shirting segment revenue decreased to Rs 201 crore due to weak consumer demand.
During the quarter, Raymond Lifestyle also opened 61 new stores. The company continues to focus on long-term sustainable business growth through retail store expansion, product innovation, and marketing investments.
