Raymond Lifestyle has reported a 33.2% decline in consolidated net profit to Rs. 42.86 crore (US $ 4.67 million) for the quarter ended 31st December 2025, as US tariffs continued to weigh on revenues from its garment segment.
The Raymond Group company had posted a net profit of Rs. 64.17 crore (US $ 6.99 million) in the corresponding October–December quarter last year, according to a regulatory filing.
Despite the fall in profit, revenue from operations rose 5.38% year-on-year to Rs. 1,848.72 crore (US $ 201 million) in the December quarter, compared with Rs. 1,754.21 crore (US $ 191 million) in the year-ago period.
In its earnings statement, the company said the revenue growth was driven by strong domestic demand, which led to higher volumes in its branded textile and apparel divisions. It added that, notwithstanding a strategic increase in marketing expenditure aimed at strengthening long-term brand equity, the company reported EBITDA of Rs. 271 crore (US $ 29.54 million), translating into a margin of 14.4%. The company said the performance reflected operational efficiencies, an optimised product mix and the rationalisation of its retail footprint to capitalise on robust domestic consumption.
While domestic demand remained resilient, the company said its international business faced pressure, particularly in the garment and business-to-business export segments, due to significant headwinds arising from US tariffs. It noted that the tariffs had affected global competitiveness, leading to deferred orders and margin pressure from international partners, although the strength of the Indian market helped offset these challenges and supported overall growth.
During the quarter, total expenses rose 3.28% to Rs. 1,764.46 crore (US $ 192 million). Total income, including other income, stood at Rs. 1,882.81 crore (US $ 205 million) in the third quarter of FY26.
Segment-wise, revenue from the textile business, which includes the branded fabric portfolio, increased 11% year-on-year to Rs. 951 crore (US $ 103 million). The company attributed the growth to higher volumes, an increase in wedding-related demand and improved consumer awareness compared with the previous year. Revenue from the branded apparel segment rose 5% to Rs. 482 crore (US $ 52.54 million) during the quarter.
In contrast, the garment segment recorded a 17% decline in revenue to Rs. 258 crore (US $ 28.12 million), compared with Rs. 309 crore (US $ 33.68 million) in the same quarter last year. The company said EBITDA from the garment segment fell to Rs. 11 crore (US $ 1.19 million) in the December quarter of FY26 from Rs. 24 crore (US $ 2.61 million) a year earlier, with the EBITDA margin contracting to 4.2% from 7.8%. It attributed the decline to the impact of US tariffs and scale deleverage.
Raymond Lifestyle’s portfolio includes brands such as Park Avenue, ColorPlus, Parx, Raymond Made to Measure, Raymond Ready to Wear, Sleepz by Raymond and Ethnix by Raymond.
Executive Chairman Gautam Hari Singhania said the company continued to address global economic headwinds through strategic planning, with a focus on leveraging opportunities arising from the UK–India free trade agreement and managing risks linked to changes in US trade policy, with the objective of delivering sustained value for stakeholders.
