Men's wear firm Raymond Ltd announced its unaudited financial results for the period ended September 2005. Revenues increased by 7 percent to Rs 373 crores over Rs 348 crores during the corresponding period last year.
Profit before tax and exceptional items for the quarter at Rs 54 crores grew by 48 percent compared to the same period last year. Net Profit after Tax at Rs 37 crores grew by 15 percent over Rs 32 crores during the period under review.
The company is continuing with its cost restructuring operations and has written off the entire amount of Rs 3.7 crores paid as VRS during the quarter.
The capacity expansion undertaken last year helped the denim business to achieve a 14 percent revenue growth. Textile exports grew by 17 percent primarily aided by sales through the garmenting route.
Worsted suiting fabric maker Raymond has been able to improve price realizations in the textile and files business which combined with lower input costs and cost control initiatives, in the form of restructuring benefits from the files & tools division, has enabled the Company to register a higher growth in Profit after Tax.
For the six months ended September 2005, Revenues increased by 13 percent to Rs 635 crores as compared to Rs 561 crores during corresponding period last year, while Profit after tax registered a significant growth of 58% at Rs 56 crores over Rs 35 crores during the period under review.
Raymond has initiated steps to increase capacity, both in existing businesses as well as through greenfield projects with reputed JV partners. The benefits from these ventures are likely to accrue over the medium term.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
