Net profit falls 15% to Rs 58 cr; income up 9% at Rs 1,407 cr, Retail News, ET Retail
NEW DELHI: Raymond Ltd on Thursday claimed a fifteen.5 for each cent decrease in consolidated net income to Rs 58.36 crore for the fourth quarter finished March 2021.
The corporation had posted a net income of Rs 69.ten crore for the duration of the January-March period of time of the earlier fiscal, Raymond mentioned in a regulatory submitting.
On the other hand, its full cash flow was up 9.03 for each cent to Rs one,407.45 crore as towards Rs one,290.87 crore in the corresponding period of time of the earlier fiscal.
Raymond Chairman and Managing Director Gautam Hari Singhania mentioned, “The quarter witnessed topline development mostly driven by Branded Textile together with sturdy momentum preserved in Engineering and Serious Estate organizations and general increased income margins, led by focused endeavours on decreasing operational expenses.”
Raymond’s full fees were being at Rs one,342.31 crore, down 6.ninety six for each cent from Rs one,442.80 crore in Q4 FY 2019-20.
Revenue from textiles climbed 24.09 for each cent to Rs 722.ten crore as towards Rs 581.90 crore earlier.
Revenue from shirting phase was up 12.two for each cent to Rs 133.17 crore from Rs 118.69 crore. On the other hand, clothing income dropped 39.5 for each cent to Rs 174.ninety six crore as towards Rs 289.27 crore.
Revenue from tools and components was at Rs a hundred and twenty.29 crore, up 52.81 for each cent from Rs seventy eight.72 crore.
Vehicle factors income amplified forty six.two for each cent to Rs 69.02 crore as compared to Rs forty seven.21 crore in the January-March quarter very last fiscal.
Serious estate and growth of property phase income jumped 42.53 for each cent to Rs fifty four.12 crore as towards Rs 37.97 crore.
For the fiscal year 2020-21, Raymond claimed a net reduction of Rs 303.65 crore. It had posted a net income of Rs 201.76 crore in the earlier year.
Complete cash flow for the total fiscal dropped forty four.5 for each cent to Rs 3,647.eighty three crore. It was Rs 6,578.thirty crore in 2019-20.
Raymond mentioned buyer sentiments have been hit owing to the resurgence of the COVID-19 pandemic and imposition of neighborhood lockdowns are impacting its retail store functions.
“We began the new fiscal with the increased amount of marriage dates and encouraging buyer footfalls in retail outlets. On the other hand, with the next wave of COVID-19 and its depth, we are witnessing lockdowns across cities thereby impacting revenue,” mentioned Singhania.
Raymond is constantly ramping up its omni-channel abilities to assistance provide shoppers across India, he included.
Shares of Raymond Ltd settled at Rs 328.fifteen on BSE, up .89 for each cent from the earlier close.
