Raymond tumbles after announcing weak Q1 numbers

Raymond lost 4.71% to Rs 466.90 at 11:44 IST on BSE after the company reported consolidated net loss of Rs 16.61 crore in Q1 June 2016, higher than net loss of Rs 14.47 crore in Q1 June 2015.

The result was announced after market hours yesterday, 21 July 2016.

Meanwhile, the S&P BSE Sensex was up 33.62 points or 0.12% at 27,744.14.

On BSE, so far 36,000 shares were traded in the counter as against average daily volume of 35,021 shares in the past one quarter. The stock hit a high of Rs 482.80 and a low of Rs 465.40 so far during the day. The stock had hit a 52-week low of Rs 351.50 on 12 February 2016. The stock had hit a 52-week high of Rs 495 on 21 July 2016. The stock had underperformed the market over the past one month till 21 July 2016, advancing 2.25% compared with Sensex's 3.35% rise. The scrip had, however, outperformed the market in past one quarter, surging 23.1% as against Sensex's 7.07% rise.

The mid-cap company has equity capital of Rs 61.38 crore. Face value per share is Rs 10.

Raymond's net sales rose 4.8% to Rs 1057.36 crore in Q1 June 2016 over Q1 June 2015.

Raymond said that the demand scenario is weak and expected to pick up in coming months in light of good monsoon, seventh pay commission payouts and festive season.

The company continues to focus on fundamentals through product innovations, expansion and modernisation of retail network, improving customer engagement by further strengthening loyalty program and innovative, cluster-breaking advertising & digital initiatives.

Raymond offers end-to-end solutions for fabrics and garmenting.

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