Raymond has reported that its net profit more than doubled in the September quarter to ₹162 crore against ₹56 crore logged in the same period last year.

Income increased 38 per cent to ₹2,191 crore (₹1,583 crore). The company registered the highest Ebitda of ₹358 crore with Ebitda margin of 16 per cent in last years.

B2C, realty businesses grow

Raymond continues to deliver high operating performance along with profitable growth for the 4th consecutive quarter leveraging optimism in the market and improved consumer demand. Focused approach has driven growth over pre-Covid levels and cost consciousness has led to deliver yet another record profitable quarter, said the company.

B2C businesses continue to grow with buoyant sentiments and celebrations at large that provided an impetus to sales across the country. Garmenting export business continued to show resilience and the order book remained healthy from US and Europe markets in spite of significant challenges of inflation. The real estate sector witnessed the sustained demand from home buyers that contributed to growth in our realty business with varied product offerings, it added.

The net debt was down at ₹1,286 crore as of September-end against ₹1,310 crore in June-end through free cash-flow generation driven by strong profitability. However, there was an increase in working capital deployment primarily in production and sales to meet strong festive and winter wedding demand in H2, it added.

Gautam Hari Singhania, Chairman and Managing Director, Raymond said, “the company was able to leverage the growing buoyancy in Indian markets across businesses as the China plus one strategy was working well for us.” The company has acquired marquee customers for garmenting business which will sustain growth momentum going forward, he said.

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