Home / Knowledge / News / Textiles / Raymond's Denim business witnesses 31 % sales growth
Raymond's Denim business witnesses 31 % sales growth
20
Oct '11
Raymond Limited announced its unaudited financial results for the quarter ended September 30, 2011.

Raymond consolidated net profit surges 24% to Rs 81 crore for quarter ended September 2011, backed by strong performance across businesses.

• Consolidated Net Sales grew by 25% to Rs 978 crore
• Consolidated EBITDA grew by 31% to Rs 185 crore
• Margin expansion at consolidated level - EBITDA margin improves by close to 100 bps

The Textile segment (standalone) sales for the quarter ended 30 September 2011 registered an increase of 26% to Rs 497 crore on the back of both higher realizations and volume growth. The segment reported Earnings Before Interest and Tax (EBIT) of Rs 97 crore which is up by 8% as compared to the corresponding quarter of previous year.

The Branded Apparel business witnessed a 29% increase in the quarterly sales to Rs 220 crore and EBITDA of Rs 41 crore for the quarter, which was higher by 112% compared to the corresponding quarter in the previous year. The business has witnessed strong growth across all its core brands.

Raymond continues to operate one of the largest specialty retail networks in India in the textile and apparel space with 762 retail stores covering over 1.54 million square feet of retail space including 41 stores in Middle East and SAARC region. Like-to-like store sales growth for the quarter has been 6%.

The Indian operations of Denim business have witnessed a 31 % sales growth during the quarter backed by 33% realization growth to Rs 191 crore, while EBlTDA stood at Rs 20 crore during the quarter, which is higher by 5% compared to the corresponding quarter of the previous year.

Announcing the results, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, "We've completed half year of the 2011-12 financial year on a very positive note. This has been possible due to the strong portfolio of our own core brands, our product quality and deep distribution network that spreads across the length and breadth of the country. We are extremely encouraged by the response of our consumers and we will take this momentum going forward in to the future as well.”

Raymond Limited

Must ReadView All

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Textiles | On 27th May 2017

Indian exports can touch $325 bn in 2017-18: FIEO

Indian exports are on upward trend in last few months as the country...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search