Raymond ‘s PAT for Q4 FY24 rises 18% to Rs 229 crore

Raymond's financial performance for the fourth quarter ended March 2024 showcased robust growth, with consolidated profit after tax increasing by 18 per cent to Rs 229 crore compared to the same period last fiscal. Consolidated net revenue also rose by 23 per cent to Rs 2,688 crore. For the full fiscal year ending March 2024, the company reported a substantial increase in consolidated profit after tax to Rs 1,638 crore, up from Rs 529 crore in the previous fiscal. Consolidated net revenue for FY24 stood at Rs 9,286 crore, marking a notable increase over the previous fiscal year.

Gautam Hari Singhania, Chairman and Managing Director, Raymond, expressed satisfaction with the company's performance, noting consistent growth across business segments throughout the year. Despite challenges such as subdued consumer demand, the lifestyle business exhibited resilience and achieved growth. Singhania also highlighted the strong booking momentum in the real estate business, particularly with the launch of the company's inaugural Joint Development Agreement (JDA) project in Bandra, Mumbai. He emphasised the company's three verticals - lifestyle, real estate, and engineering business - as future growth engines, underscoring their strategic importance in driving the company's expansion and success.