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Textile segment sales up at Raymond Limited
22
Jan '11
Raymond Limited announced its unaudited financial results for the quarter ended December 31, 2011.

The Textile segment sales for Q3FYl1 registered an increase of 21% to Rs 444 crore on the back of higher realizations in a buoyant domestic market. The Textile segment reported Earnings Before Interest and Tax. (EBIT) of Rs 105 crore which is up by 69% compared to the corresponding period Of previous year.

The Branded Apparel business witnessed a 29% increase in sales to Rs. 178 crore, wh1le EBITDA of Rs 26 crore for the quarter, higher by 111 % as compared to the corresponding period of the previous year.

Raymond continues to operate one of the largest specialty retail networks in India in the textile and apparel space with 671 retail covering over 1.4 million square feet of retail space. In addition, the Company also has 39 stores in Middle East and SAARC region. Like-to-1ike store sales gtowth for the quarter has been strong at 14%.

The company has successfully completed. the voluntary separation scheme with workmen at its Thane plant.

Announcing the results, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, "We are continuing with our strong momentum built up on the strengths of our brands, net-work and manufacturing capabilities. The vibrant domestic market will bring us bigger opportunities for growth and profitability."

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.With over 60% market share in India, Raymond Ltd is one of the largest integrated manufacturer of worsted fabric in the world.

Raymond Limited

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