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Denim & Textile Division sales grow at Menswear Company

20
Jan '07
Raymond Limited announced its un-audited financial results for the quarter ended December 31, 2006. Net Sales at Rs.297.25 crore is not comparable with the same quarter of the previous year since the results of quarter ended December 31, 2005 included the performance of the denim division which was hived off into a Joint Venture with UCO NV of Belgium in August 2006.

The net sales excluding the results of the denim division grew by 13%. The company posted a profit before tax and exceptional items of Rs.55.16 crore for the quarter ended December 31, 2006.

The sales of Textile Division registered a growth of 12% to Rs. 251.43 crore as against Rs. 224.12 crore in the same quarter of the previous year. The division sold 68.4 lac meters of fabric during the quarter as against 59.4 lac meters during the same quarter of previous year.

The Sales of the Files & Tools division were at Rs.42.79 crore as against Rs.38.53 crore in the same quarter of the previous year.

The Textile Division reported a growth in Profit Before Interest and Tax of 16% largely driven by increase in the volume of fabric sold. The Profit Before Interest and Tax of the Files division decreased by 6% due to increase in raw material costs and one time expenses incurred during the quarter.

During the quarter, the company signed a 50:50 JV with Grotto SpA of Italy for retailing of premium casual wear and accessories under the 'GAS' brand.

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