Raymond Q4 profit declines 89%

Textile major Raymond today reported 89.26% decline in its consolidated net profit for the quarter ended March 31 at Rs 3.17 crore.

The company had posted a net profit of Rs 29.51 crore in the year-ago period, Raymond said in a filing to the Bombay Stock Exchange (BSE).

The company's consolidated total income, however, increased by 13.52% to Rs 956.52 crore from Rs 842.58 crore in the same period previous fiscal, it added.

The board of directors recommended a dividend of 25% for the last fiscal.

For the 2011-12 financial year, Raymond posted nearly three-fold increase in its consolidated net profit to Rs 155.78 crore from Rs 53.68 crore in the previous fiscal, the filing said.

The consolidated total income in FY12 went up 19.74% to Rs 3,657.08 crore from Rs 3,054.06 crore in FY11.

Shares of the company today closed 1.76% down at Rs 396.50 apiece on the BSE.