You are here: Home » PTI Stories » National » News
Business Standard

Raymond Q2 net plunges 86% to Rs 9.44 crore

Press Trust of India  |  New Delhi 

Diversified group Raymond today reported a massive fall of 86.14 per cent in its consolidated net profit at Rs 9.44 crore for the second quarter ended September 30, 2015 on account of under-performance of its engineering business.

The company had posted a consolidated net profit of Rs 68.12 crore during the July-September period of previous financial year.

Raymond's total consolidated income from operation during the quarter under review increased by 2.18 per cent to Rs 1,492.59 crore as against Rs 1,460.74 crore during the same period of last financial year, Raymond said in a filing to the the BSE.

"The Q2 of FY 2015-16 witnessed subdued consumer demand with extended end of season sales period. In addition to these factors, our continued investments in brand building and retail network expansion, besides under-performance of the engineering business impacted the quarterly results," said Raymond Ltd Whole-time Director H Sunder.

Raymond has posted a consolidated net loss of Rs 4.28 crore for the first half of 2015-16 as against a net profit of Rs 35.27 crore in the same period a year ago.

Its total income from operation on consolidated basis during the first half of the current fiscal was at Rs 2,614.28 crore, up 2.22 per cent from Rs 2,557.49 crore a year ago.

Shares of Raymond today settled at Rs 444.15 per scrip on BSE, up 1.35 per cent from previous close.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, October 28 2015. 20:07 IST