Raymond: Resilient performance amidst challenging times
19 Jan '12
2 min read
Raymond Limited announced its unaudited financial results for the quarter ended December 31, 2011.
The Textile segment (standalone) sales for the quarter ended 31 December 2011 registered an increase of 16% to Rs 514 crore on the back of both higher realizations and volume growth. The segment reported Earnings before Interest and Tax (EBIT) of Rs 104
The Branded Apparel business witnessed a 7% increase in the quarterly sales to Rs 198 crore and reported an EBITDA of Rs 29 crore for the quarter. The branded apparel business has shown strong resilience in a challenging business environment.
Raymond's retail network has crossed 800 stores mark. The store count as on 31st Dec 2011 stood at 807, including 40 stores in Middle East and SAARC region covering over 1.6 million square feet of retail space.
The Indian operations of Denim business have witnessed a 11 % sales growth during the quarter to Rs 171 crore, while its El3ITDA stood at Rs 18 crore.
Announcing the results, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, "After a robust performance in the first half of the current financial year, the third quarter has been more challenging. Consumer sentiment has been impacted mainly due to high Inflation.
However, we have a strong portfolio of power brands which have shown resilience during these times. Moreover, limes like these help us become more efficient and competitive. We also believe that this is a short term phenomenon and the long term domestic consumption story in India is well intact. Accordingly we will continue to focus on our core strategies and strengths and will continue to roll out our retail expansion in smaller towns and cities as envisaged".
The Raymond Group was incorporated in 1925 and within a span of a few years, transformed from being an Indian textile major to a global conglomerate.
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