Co posts net loss at Rs 157 cr, Retail News, ET Retail

Raymond Q1 results: Co posts net loss at Rs 157 crNew Delhi: Raymond Ltd on Thursday described a consolidated net decline of Rs 157.ten crore for the quarter finished June 2021. The enterprise experienced posted a net decline of Rs 247.sixty crore for the duration of the April-June quarter of the prior fiscal, Raymond stated in a regulatory submitting.

Nonetheless, its earnings from procedure rose around 4-fold to Rs 825.70 crore as in opposition to Rs 163.16 crore in the corresponding period of time of the prior fiscal.

Full bills in Q1 FY 2021-22 were at Rs 971.06 crore, up seventy eight.fifty four per cent around Rs 543.87 crore earlier.

Raymond Chairman and Controlling Director Gautam Hari Singhania stated, “The quarter gone by was a difficult one as it was severely impacted by the second wave of pandemic. Nonetheless, we were equipped to tackle the scenario much better with earlier learnings and shut the quarter with greater revenues.”

The customer sentiments were found favourable for the duration of the thirty day period of June with greater quantity of marriage dates, he added.

Raymond was also equipped to preserve robust worthwhile momentum in the engineering business as it focused on exports as the domestic industry was impacted thanks to lockdown, he stated.

“With vaccination drive attaining pace, we are cautiously optimistic of customer demand finding up with upcoming competition and marriage season,” Singhania added.

Shares of Raymond Ltd settled at Rs 453.forty on BSE, down 2.sixty six per cent from the prior shut.