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Net sales of Raymond's Textile Division go up
30 Apr '08
3 min read
On a consolidated basis, the consolidated total income was Rs 2487.21 crore for FY07-08, an increase of 17% over the previous year (Rs 2118.72 crore).
The consolidated profit before tax and exceptional items for FY 07-08 was Rs 31.83 crore as against Rs 155.78 crore in the previous year.
The consolidated net profit for FY 07-08 was Rs 21.06 crores as against Rs 139.99 crores during the previous year.
The consolidated numbers have been significantly impacted by the operations of the company's joint venture - Raymond UCO Denim Pvt Ltd, which incurred losses due to the global down cycle in the denim market, that continues to be sluggish and due to losses in Raymond Fedora Pvt Ltd.
The Board of Directors has recommended a dividend of 25% for the year. Announcing the results, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “The Textile market continues to be buoyant and to capitalize on the emerging opportunities the systems and processes at Raymond underwent an unprecedented change.
This transition to the ERP environment resulted in initial internal impediments and we recouped some of our missed opportunities during the last quarter.
We are confident therefore that these issues are behind us now, which should reflect on both our topline and bottomline numbers during the next year. Our apparel businesses continue blazing a high growth trail.
We have been and continue to judiciously expand our retail penetration. All this augurs well for the future of Raymond Ltd.”
The consolidated profit before tax and exceptional items for FY 07-08 was Rs 31.83 crore as against Rs 155.78 crore in the previous year.
The consolidated net profit for FY 07-08 was Rs 21.06 crores as against Rs 139.99 crores during the previous year.
The consolidated numbers have been significantly impacted by the operations of the company's joint venture - Raymond UCO Denim Pvt Ltd, which incurred losses due to the global down cycle in the denim market, that continues to be sluggish and due to losses in Raymond Fedora Pvt Ltd.
The Board of Directors has recommended a dividend of 25% for the year. Announcing the results, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “The Textile market continues to be buoyant and to capitalize on the emerging opportunities the systems and processes at Raymond underwent an unprecedented change.
This transition to the ERP environment resulted in initial internal impediments and we recouped some of our missed opportunities during the last quarter.
We are confident therefore that these issues are behind us now, which should reflect on both our topline and bottomline numbers during the next year. Our apparel businesses continue blazing a high growth trail.
We have been and continue to judiciously expand our retail penetration. All this augurs well for the future of Raymond Ltd.”
Raymond Limited
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