Raymond reports jump in Q3 FY22 profits

27 January 2022, Mumbai:

Raymond reported a multifold jump in its net profit to Rs 101.07 crore for the third quarter ended in December 2021. The company had posted a net profit of Rs 22.18 crore during the October-December of the previous fiscal, Raymond said in a regulatory filing.

Its revenue from operations surged by 48.25 per cent to Rs 1,843.39 crore during the quarter under review as against Rs 1,243.44 crore in the corresponding period of the previous fiscal.

Gautam Hari Singhania, Chairman, and Managing Director, says, the company’s focused approach on the growing demand for its products and continued cost optimization, helped achieve profitability.

It generated free cash flows to reduce debt and are progressing towards being a net debt-free business.

Raymond's total expenses increased by 32,22 per cent toRs 1,685.03 crore, in Q2/FY 2021-22, as against Rs 1,274.38 crore.

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