Raymond Limited sales fall to ₹1,286 cr in Q3 FY21

10 Feb '21

2 min read

Pic: Raymond

Raymond Limited, an Indian textile and apparel company, has announced financial results for its third quarter (Q3) FY21, ended on December 31, 2020. Net revenue for the quarter slipped 32 per cent to ₹1,286 crore compared to revenue of ₹1,905 crore in the same period prior fiscal. Net profit for Q3 dropped to ₹22 crore (Q3 FY20: ₹195 crore).

“With markets and channels opening up and consumer sentiments getting back to track, we are seeing demand for our products & services getting better on a quarter on quarter basis and our sustained focus on operational efficiencies has yielded in a profitable quarter,” Gautam Hari Singhania, chairman and managing director at Raymond Limited, said in a press release.

EBITDA for the reported period was ₹157 crore (₹226 crore). While, profit before tax fell to ₹12 crore (₹60 crore).

Branded textile segment sales during Q3 FY21 stood at ₹603 crore, witnessing a good recovery of 70 per cent over previous year driven by pickup in wholesale and trade channels on account of festive and wedding demand and gifting sales, as company reported in the release.

Whereas, branded apparel segment sales was ₹211 crore, led by festive and marriage demand in October & November in the retail channels. Garmenting segment sales was ₹137 crore which includes revenue contribution from PPE sales and in bulk business, customers in US & Europe placed orders. High value cotton shirting segment sales for Q3 FY21 was ₹86 crore.

Fibre2Fashion News Desk (JL)

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