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Textile and branded apparel maker Raymond’s profit plummeted 86 per cent at Rs 4 crore in the third quarter ended December 31 in FY 13. The company posted a profit of 31 crore during the year ago period.
The decline in margins has been attributed to higher input costs and underutilisation of capacities, the company said. It also said that higher discounted sales and change in channel mix.
However, net sales rose 8 percent at Rs 554 crore. The sales of branded apparel rose by 7 per cent in the October-December quarter.
> Priyanka.pani@thehindu.co.in
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