18 May 2022, Mumbai:
The Q4FY22 net profit of Raymond jumped four-fold to Rs 264.97 crore as the company benefitted from buoyant demand and strong consumer sentiments during the period.
The company posted a net profit of Rs 58.36 crore during the January-March quarter of the previous fiscal.
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Revenues from operations grew 43.38 percent to Rs 1,958.10 crore during the quarter under review as against Rs 1,365.66 crore in the corresponding period of the previous fiscal. Total expenses went up 33.36 percent to Rs 1,790.12 crore, as against Rs 1,342.31 crore in the year-ago quarter.
During the quarter, the company maintained demand in international markets for its garment business.
Revenue from the textile segment grew by 22.66 percent to Rs 885.80 crore as against Rs 722.10 crore in the corresponding quarter, driven by strong momentum in secondary sales led by wedding-related purchases and higher footfalls in retail outlets.
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Revenue from the company’s 'shirting' segment grew 31.11 percent to Rs 174.60 crore as against Rs 133.17crore of Q4/FY 2021-22 driven by wedding season-related purchases and the opening up of offices.
Revenue from the apparel segment surged 59.43 percent to Rs 278.94 crore as against Rs 174.96 crore.
Garmenting segment revenue increased 69.29 percent to Rs 212.65 crore as against Rs 125.61 crore, mainly driven by growth due to high demand from existing customers in US & Europe markets and new customer acquisitions.
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