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Worsted fabric sales improves Raymond's Textile Div growth

01
Nov '06
Raymond Ltd announced its unaudited financial results for the quarter ended September 30, 2006. Net Sales increased by 2.5 percent to Rs. 358.62 crore as compared to Rs. 349.66 crore in the same quarter of the previous year.

The Company posted a profit before tax and exceptional items of Rs. 56.25 crore as against Rs. 53.89 crore in the same quarter of the previous year.

The Net profit After Tax was Rs. 141.47 crore against Rs 36.83 crore for the same quarter of the previous year. This included the surplus on divestment of denim division amounting to Rs. 87.10 crore.

The results of the Company for the quarter ended September 30, 2006 include the results of the denim division for only one month of the quarter. The Company posted positive growth in profitability inspite of decrease in non-operating income by Rs. 7.16 crore.

The sales of Textile Division registered a growth of 18 percent to Rs. 286.29 crore as against Rs. 242.56 crore in the same quarter of the previous year.

The division sold 85.5 lakh meters of fabric during the quarter as against 75.9 lakh meters during the same quarter of the previous year.

The sales of the Files & Tools division were at Rs. 43.00 crore as against Rs. 38.17 crore in the same quarter of the previous year.

The Textile Division reported a growth in Profit Before Interest & Tax of 25 percent largely driven by increase in the sales of worsted fabric and improvement in the product mix.


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