Recently released first quarter report from India's leading brand producer of worsted suiting fabric 'Raymond', revealed that its loss for the first quarter ending June this year, has decreased to Rs. 316 million compared to the loss in the same quarter of last year at Rs. 416 million.
Sales of the company went up by 1.79 percent to Rs. 3,554 million, but overall income for this period slipped down by 2.61 percent to Rs. 2,562.80 million in comparison with the same period of last year.
The company has noted that textile sales which has a substantial contribution in company's overall sales and profit is of seasonal nature, since the sale of value added products is connected to the festivals and winter seasons, so the performance in the first quarter does not represent that of the full year.
Fibre2fashion News Desk - India
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