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Textile major Raymond reported a fall in net profit by 26 per cent to Rs 68 crore in second quarter of the current fiscal while net sales of the company saw a rise of 19 per cent to Rs 1471 crore.
The textile business witnessed an increase of 23 per cent in sales in the second quarter in Q2 to Rs 694 crore, however, the EBIDTA for the quarter was impacted due to product mix, higher input cost and The Raymond Shop renovation.
The apparel business also saw its EBIDTA fall by 5 per cent on the back of higher ad spends. Sales during the quarter stood at Rs 293 crore. Luxury cotton shirting fabrics business saw its EBIDTA margins improve by 5.8 per cent to 16.8 per cent due to better realisations and one off income of RS 6.50 crore during the the September quarter.
