Raymond Q4 profit jumps over two folds to Rs 21.47 cr

Diversified group Raymond today reported over two-fold jump in consolidated net profit at Rs 21.47 crore for the fourth quarter ended March 31, 2015, on account of high revenue growth.

The company had posted a consolidated net profit of Rs 8.14 crore during the January-March period of previous financial year.

Raymond's total consolidated income from the operation during the quarter under review also increased by 13.02% to Rs 1,411.62 crore as against Rs 1,248.94 crore during the same period of last financial year, Raymond said in a filing to the BSE.

"We ended the financial year 2014-15 on a strong note with high revenue growth in the lifestyle business, despite subdued consumer sentiment and high interest rates that prevailed for most part of the year," Raymond Chairman and Managing Director Gautam Hari Singhania said.

The company has signgificantly stepped up its growth related investments in the form of higher ad spend, new store roll-outs, store renovation etc, benefits of which are likely to accrue in the coming year, he added.

On the future outlook, Singhania said: "We are hopeful of domestic scenario improving in the coming quarters and will continue to invest for growth in the exciting times".

In the financial year ended March 31, 2015, Raymond's consolidated net profit increased 4.81% to Rs 112.81 crore as against Rs 107.63 crore of the previous fiscal year.

Company's consolidated total income from operation also increased 17.42% to Rs 5,351.69 crore in 2014-15 as against Rs 4,557.69 crore of 2013-14.

Shares of Raymond today closed at Rs 449.90 per share on the BSE, up 2.71% from previous close.