The company’s revenue for the quarter surged by 98 per cent to Rs. 938 crore, compared to Rs. 473 crore in the same quarter of the previous year.
Gautam Hari Singhania, Chairman and MD of Raymond Limited, commented, “We are pleased with our performance in Q1 FY ’25, reflecting the effectiveness and flexibility of our business strategy. Throughout this quarter, we effectively demerged our lifestyle business into a separate entity, which is set to be listed in Q2 FY ’25.”
He further noted, “The lifestyle business faced challenges this quarter due to weak consumer demand, extended heat waves, general elections, less wedding dates, and inflation, which affected both revenue and margins.”
Raymond operates one of the biggest exclusive retail networks in India, with approximately 1,450 stores across over 600 towns, featuring brands such as Park Avenue, Parx, Colorplus, and Ethnix by Raymond, among others.
