Raymond, an Indian apparel and textile company, has announced its financial results for the first quarter ended on June 30, 2018.
During the period under review, the textile manufacturing company’s consolidated net profit reached Rs 1.92 crore as compared to a net loss of Rs 5.87 crore in the corresponding period a year ago.
Revenue during the reporting quarter for the textile company augmented 4.5 per cent to Rs 1,251 crore as compared to Rs 1,197 crore in the same quarter last year.
The textile company’s total expenses increased by 3.31 per cent to Rs 1,281 crore from Rs 1,240 crore in the corresponding period last year.
Furthermore, Raymond reported 79.2 per cent increase year-on-year (Y-o-Y) basis in its consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) to Rs 68.8 crore in the quarter under review.
“Affirmative first quarter results and the profitable growth is a deposition towards our strong focus on execution and financial prudence,” stated Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited in a statement issued.
As of June 30, 2018, Raymond operated a total of 1,236 stores across all formats, including 52 stores in the Middle East and SAARC region.
In the beginning of the reporting quarter, the company unveiled its expansion plan for its mini-store format targeting Tier III, IV and V cities and towns, where the large setup may not be viable. A typical Mini TRS, therefore, measures between 600 sq. ft. and 1,200 sq. ft., notably.
