Raymond Limited today announced its un-audited financial results for the quarter ended June 30, 2007. Net Revenue for the first quarter ended June 30, 2007 was at Rs 236.4 crores compared to Rs 298.5 crores in the same quarter of the previous year which also included the results of the erstwhile denim division.
On a like-to-like basis, the net revenues for the first quarter ended June 30, 2007 have increased by around 12% to Rs 236.4 crores as compared to Rs. 211.8 crores in the same quarter of the previous year.
The textile division has registered an increase in net sales by 7% to Rs 166.08 crores with the second phase of Vapi expansion having its first full quarter of operations. The net sales of files & tools division was also up by 7% to Rs. 39.80 crores.
For the quarter ended June 30, 2007, the Company's profit after tax (PAT) was at Rs 5.4 crores. However, on a like-to-like basis, excluding denim operations from the same quarter of the previous year, the profit before tax has increased by around 9% over the period.
Announcing the results, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “The branded apparel business has witnessed an excellent growth. We also see continued growth in our textile business. The increasing raw material costs and rupee fluctuations are a challenge.”
However, with our inherent strengths in textiles and retailing we will continue to grow rapidlyand capitalize on the unfolding opportunities.
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