Textile firm Raymond today posted a net loss of Rs 115.79 crore during the quarter ended December 31, 2010.
The company had a net profit of Rs 42.57 crore in the quarter ended December 31, 2009, Raymond said in a filing to the Bombay Stock Exchange.
The company said the net loss was "due to charge of exceptional item on account of separation of workers at Thane plant".
During the quarter under review, the company's net sales registered a 20 per cent increase to Rs 447.24 crore from Rs 372.33 crore posted in the corresponding quarter.
"We are continuing with our strong momentum built up on the strengths of our brands, network and manufacturing capabilities. The vibrant domestic market will bring us bigger opportunities for growth and profitability," Raymond Chairman and Director Gautam Hari Singhania said.
During the period, the company said sales of its textile segment registered an increase of 21 per cent to Rs 444 crore, while its apparel business witnessed an increase of 29 per cent in sales to Rs 178 crore.
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