Raymond on Wednesday reported a decline of 5 per cent year-on-year (YoY) net profit at Rs 95 crore in the quarter ended on 31 December ,compared to the same quarter in the previous financial year at 100 crore , according to the company’s regulatory filing.
Its revenue from operations grew by 18 per cent YoY to Rs 2,200 crore in the quarter gone by.
Its Earnings before interest, taxes, and amortisation (EBITDA) was at Rs 351 crore in the third quarter of FY23.
The strong festive season witnessed a higher average transaction value by 24 per cent in the company’s ‘The Raymond Shop’ (TRS) network compared to the previous year, read the statement.
In The Raymond Shop (TRS) network, the firm witnessed a 24 per cent increase in bill values.
Branded Textile segment reported sales of Rs 902 crore vs Rs 899 crore in Q3FY22
Branded Apparel segment reported topline growth of 15 per cent with sales at Rs 364 crore in Q3 FY23 as compared to RS 316 crore in the same quarter last year.
Also, the company’s garmenting segment reported sales in a quarter at Rs 282 crore, a growth of 39 per cent as compared to Rs 203 crore in previous year
Total expenses were at Rs 1,977.28 crore, up 17.34 per cent from Rs 1,685.03 crore earlier.
Gautam Hari Singhania, Chairman & Managing Director, Raymond said, “I am happy to share that this is the fifth straight quarter where we have registered strong performance and overall generated free cash flows to further deleverage the balance sheet to below Rs 1,000 crore of net debt levels.”
Shares of Raymond on Wednesday closed at Rs 1,376.70 on BSE, dip of 10.11 per cent from the previous close.