Raymond dips on weak Q1 earnings
The business was impacted due to poor consumer sentiment and early end of sale season
Raymond Limited has dipped 4% to Rs 336 after reporting a consolidated net loss of Rs 35 crore for the June-ended quarter against a net profit of Rs 11 crore a year ago, due to higher operational costs.
Net sales grew 10% at Rs 838 crore on year-on-year basis. EBIDTA margins declined to 5% from 11% during the quarter under review. “Margins have been impacted due to challenging domestic environment and increase in input costs,” Raymond said in a filing.
“The business has been impacted due to poor consumer sentiment and early end of sale season,” it added. A combined around 52,000 shares have changed hands on the counter in opening deals on both the exchanges.