The consolidated numbers have been significantly impacted by the operations of the company's recently formed joint venture Raymond UCO Denim Pvt Ltd, which incurred losses due to the oversupply situation in the global denim market, which continues to be sluggish.
The Board has recommended a dividend of 50%. Announcing the results, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “We see continued growth in our textile and apparel business and with our world class vertically integrated facilities, strong product development and branding skills, we have the necessary strengths to capitalize on the unfolding opportunities. In respect of our JVs, especially in Denim, we are working closely with our JV partners to make the businesses realize their goals.
marketing@alchempro.com
