Raymond has reported a 60 per cent increase in net profit at Rs 30.55 crore for the quarter ended December 31, 2003 as against Rs 19.10 crore in third quarter of last fiscal. | |
| Net sales edged up to Rs 277.44 crore (Rs 275.38 crore). Other income shot up by 190 per cent to Rs 20.64 crore (Rs 7.11 crore). Net profit for the nine month period of 2003-04 was higher by 57 per cent to Rs 90.96 crore as compared with Rs 57.82 crore in the same period of previous fiscal. |
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| Net sales increased 6.5 per cent to Rs 785.86 crore (Rs 737.67 crore). Gautam Hari Singhania, chairman and managing director, Raymond said: "Despite continued difficult market conditions and increasing input costs, we have been able to maintain a satisfactory third quarter and overall performance during the nine months of the financial year." |
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| Despite a steep rise in the prices of wool and polyester, the textile division achieved a higher profit of Rs 28.30 crore (Rs 22.51 crore) during the quarter. Revenue stood at Rs 192.34 crore (Rs 200.35 crore). |
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| The denim division recorded a growth of 33.13 per cent in its revenue during the third quarter at Rs 51.31 crore (Rs 38.54 crore) . Despite higher volume, the denim division's profitability was affected due to the continuous rise in the cotton prices during the current year. |
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