Raymond shares soar over 10% on robust Q4 performance

Shares of diversified group Raymond today surged by more than 10 per cent after the company reported an over two-fold jump in net profit for the quarter ended March 31.
The stock zoomed 9.63 per cent to Rs 437 on BSE.
At NSE, shares of the company jumped 10.23 per cent to Rs 439.80.
Raymond yesterday reported over two-fold jump in consolidated net profit at Rs 56.22 crore for the fourth quarter ended March 31, on account of revenue growth and profitability from lifestyle business.
The company had posted a consolidated net profit of Rs 21.47 crore during January-March period of the previous fiscal.

Raymond's total consolidated net sales during the quarter under review increased by 7.93 per cent to Rs 1,511.35 crore as against Rs 1,400.29 crore during the same period of last financial year, it had said in a regulatory filing yesterday.
For the full fiscal, Raymond's consolidated net profit was down 18.40 per cent at Rs 112.81 crore as against Rs 92.05 crore in the previous fiscal.
Consolidated net sales was at Rs 5,594.69 crore, up 4.91 per cent in 2015-16 as against Rs 5,332.61 crore in 2014-15.