Raymond Q4 net profit down 15.5% to Rs 58 crore

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New Delhi: Raymond Ltd on Thursday reported a 15.5% decline in consolidated net profit to Rs 58.36 crore for the fourth quarter ended March 2021.

The company had posted a net profit of Rs 69.10 crore during the January-March period of the previous fiscal, Raymond said in a regulatory filing.

However, its total income was up 9.03% to Rs 1,407.45 crore as against Rs 1,290.87 crore in the corresponding period of the previous fiscal.

Raymond Chairman and Managing Director Gautam Hari Singhania said, “The quarter witnessed topline growth mainly driven by Branded Textile along with strong momentum maintained in Engineering and Real Estate businesses and overall higher profit margins, led by focused efforts on reducing operational costs.” Raymond’s total expenses were at Rs 1,342.31 crore, down 6.96% from Rs 1,442.80 crore in Q4 FY 2019-20.

Revenue from textiles climbed 24.09% to Rs 722.10 crore as against Rs 581.90 crore earlier.

Revenue from shirting segment was up 12.2% to Rs 133.17 crore from Rs 118.69 crore. However, apparel revenue dropped 39.5% to Rs 174.96 crore as against Rs 289.27 crore. Revenue from tools and hardware was at Rs 120.29 crore, up 52.81% from Rs 78.72 crore.

Auto components revenue increased 46.2% to Rs 69.02 crore as compared to Rs 47.21 crore in the January-March quarter last fiscal. Real estate and development of property segment revenue jumped 42.53% to Rs 54.12 crore as against Rs 37.97 crore.

For the fiscal year 2020-21, Raymond reported a net loss of Rs 303.65 crore. It had posted a net profit of Rs 201.76 crore in the previous year.

Total income for the entire fiscal dropped 44.5% to Rs 3,647.83 crore. It was Rs 6,578.30 crore in 2019-20.