Raymond Q3 net profit at Rs 60.89 cr

Raymond reported a profit on the back of strong growth in the textile segment.

Textiles and apparel maker Raymond today reported a consolidated net profit of Rs 60.89 crore for the third quarter ended December 31,2011,primarily on the back of strong growth in the textile segment.

The company had posted a net loss of Rs 74.15 crore in the same period last year,Raymond said in a BSE filing.

Net sales of the company stood at Rs 952.08 crore for the third quarter ended December 31,2011,while the same stood at Rs 852.23 crore in the year-ago period.

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Commenting on the results Raymond CMD Gautam Hari Singhania said,”We will continue to focus on our core strategies and strengths and will continue to roll out our retail expansion plan in smaller towns and cities as envisaged.”

On a standalone basis,the company posted a net profit of Rs 31.26 crore for quarter under review.

The company said its textile segment sales saw an increase of 16 per cent to Rs 514 crore on the back of high realisations and volume growth.

Shares of Raymond today closed at Rs 347.20 on the BSE,down 0.24 per cent from its previous close.

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