Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
23 October, 2014 09:16 IST
News
Raymond Q2 profit drops 38% as margins shrink
Source: IRIS | 20 Oct, 2012, 12.21PM
Comments  |  Post Comment

Raymond, one of the largest integrated manufacturer of worsted fabric, has posted a drop of 37.92% in net profit of Rs 502.6 million for the quarter ended September 30, 2012 as compared to Rs 809.6 million for the quarter ended September 30, 2011. 

The company's profit was majorly impacted due to steep drop in the EBITDA margins, which fell 4 percentage points to 15%.

Net sales has incresed by 13.58% to Rs 11.14 billion for the quarter ended Sept. 30, 2012 from Rs 9.80 billion in the year ago period.

Gautam Hari Singhania, chairman and managing director, Raymond, said, ''Despite challenging business environment, Raymond has reported double digit growth rates during the quarter on the strength of its brands, network and customer relationships. Though consumer sentiment continues to remain subdued largely due to high interest rates and inflation, we are confident about the long term and will continue to invest in brand building,  retail and in improving operational efficiencies.''

Shares of the company declined Rs 4.8, or 1.25%, to trade at Rs 378.20. The total volume of shares traded was 61,593 at the BSE (Friday).



Raymond Limited   (Q,N,C,F)*


Sector News
Wipro consolidated Q2 profit rises 8% - 22-Oct-2014 16:46
SBI launches mPassBook facility in 'State Bank Anywhere' smart phone application - 22-Oct-2014 16:37
BSE inks strategic pact with Yes Bank - 22-Oct-2014 16:23
Int'l freight volumes to increase at CAGR of 4.1% over next five years: IATA - 22-Oct-2014 16:18
FIIs hike stake in Hindustan Zinc, DIIs cut exposure - 22-Oct-2014 16:07
DIIs increase stake in Unitech in September quarter - 22-Oct-2014 16:05
Zensar Technologies allots 1,560 equity shares - 22-Oct-2014 16:02
Tata Metaliks swings to consolidated profit in Jul-Sep quarter - 22-Oct-2014 15:59
Angel Broking maintains neutral on HDFC - 22-Oct-2014 15:57
Asian Paints consolidated Q2 profit climbs 6.4% - 22-Oct-2014 15:36
CRISIL assigns `AA-/Stable` on Andhra Bank Tier I bond issue - 22-Oct-2014 15:18
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   cp96mc into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer