Raymond Ltd on Thursday reported a 32.26 per cent increase in consolidated net profit at Rs 86.24 crore for the second quarter ended September 30.
The company had posted a net profit of Rs 65.20 crore in July-September period a year ago, Raymond said in a BSE filing.
Its net sales rose 1.91 per cent to Rs 1,883.17 crore during the period under review as against Rs 1,847.75 crore in the corresponding quarter of previous fiscal.
"With the consumers sentiment remaining tepid, growth continues to be dampened by subdued consumption leading to sluggish market conditions during the quarter. The overall economy is facing strong headwinds in terms of consumer demand especially in rural areas along with liquidity crunch," Raymond CMD Gautam Hari Singhania said.
Raymond's total expenses rose 3.91 per cent to Rs 1,841.07 crore during the quarter under review as against Rs 1,771.77 crore a year ago.
Shares of Raymond on Thursday closed 0.29 per cent higher at Rs 600.50 on the BSE.
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