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Raymond has posted a net profit of Rs 61 crore in the quarter ended December 30, against a net loss of Rs 74 crore in the same period last year, largely due to the impressive performance of its textile division.
Net sales rose 12 per cent to Rs 952 crore (Rs 852 crore).
The textile division recorded a 16 per cent increase in net sales at Rs 514 crore (Rs 444 crore) on the back of higher volumes and better realisation.
The segment reported an EBIT of Rs 104 crore. Revenue from the garments division was lower, at Rs 273 crore (Rs 284 crore), while that from the tools and hardware unit was down at Rs 71 crore (Rs 85 crore). Raymond's retail network crossed the 800 mark to touch 807 stores during the quarter under review.
It opened 40 stores in West Asia and the SAARC region, covering over 1.6 million sq ft of retail space, the company said, in a press release.The company's shares were down 0.24 per cent at Rs 347 on Wednesday.
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