Raymond, one of the largest integrated manufacturer of worsted fabric, witnessed a sharp fall in share price on Thursday after it disclosed a decline in standalone net profit for the quarter ended December 2014.  During the quarter, the profit of the company declined 1.44% to Rs 560.70 million from Rs 568.90 million  in the same quarter last year.

Net sales for the quarter  rose 14.44% to Rs 13,825.80 million, compared with Rs 12,082 million for the prior year period. Earnings per share for the quarter stood at Rs 9.13, registering 1.51% decline over previous year period.

Shares of the company declined Rs 8.60, or 1.62%, to trade at Rs 522.30 at the BSE (10.15 a.m., Thursday).