Diversified group Raymond today reported widening of its consolidated net loss at Rs 16.61 crore for the first quarter ended June 30, 2016.
The company had posted a consolidated net loss of Rs 14.47 crore during the April-June period of previous financial year, Raymond said in a filing to the BSE.
Its total consolidated income from operations during the quarter under review was up 4.81 per cent to Rs 1,057.36 crore as against Rs 1,008.82 crore in the corresponding period of last financial year.
Commenting on the results, Raymond CMD Gautam Hari Singhania said: "The current quarter witnessed a subdued consumer demand with early onset of end of season sales period in addition to volatile global economic environment.
Notwithstanding these challenges we have been able to register growth in top-line and EBITDA at the consolidated level, which speaks well of the resilience of our brands and distribution network." Meanwhile, in a separate filing, Raymond informed BSE that its board in a meeting held today approved appointment of Akshay Chudasama as independent director and H Sunder as whole time director.
Shares of Raymond today settled at Rs 490.00 on BSE, up 1.75 per cent from previous close.
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