Raymond’s Q4 net profit declines 15.5 per cent

Raymond’s Q4 consolidated net profit has declined 15.5 per cent. However, the company’s total income increased 9.03 per cent to Rs 1,407.45 crore as against Rs 1,290.87 crore in the corresponding period of the previous fiscal. Hari Singhania, Chairman and Managing Director says, topline growth witnessed in Q4 was mainly driven by the branded textile business along with strong momentum maintained in engineering and real estate businesses and overall higher profit margins, led by focused efforts on reducing operational costs.

Raymond's revenue from textiles increased 24.09 per cent to Rs 722.10 crore as against Rs 581.90 crore earlier. Revenue from shirting segment increased 12.2 per cent to Rs 133.17 crore from Rs 118.69 crore. However, revenues from the apparel segment dropped 39.5 per cent to Rs 174.96 crore as against Rs 289.27 crore.

For the fiscal year 2020-21, Raymond reported a net loss of Rs 303.65 crore. It had posted a net profit of Rs 201.76 crore in the previous year. Total income for the entire fiscal dropped 44.5 per cent to Rs 3,647.83 crore. It was Rs 6,578.30 crore in 2019-20.