Raymond bottomline declines 18.8%

BS 200 SCORECARD

Raymond's net profit for the quarter ended September 30, 2004, decreased 18.8 per cent at Rs 32.04 crore, compared with a net profit of Rs 39.49 crore, reported in the corresponding quarter last year.

The company's net sales from operations grew 13.7 per cent at Rs 338.96 crore against Rs 298.04 crore in the same quarter last year.

Rupee depreciation, higher interest charges, excise duty payment owing to changes in Central Excise Act, VRS compensation, additional wages and higher cost of raw materials such as cotton and steel, impacted the company's profit for the second quarter, pointed out a company release.