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Raymond stock price jumps 5% on Q4 net profit of Rs 58 crore

The fabric and fashion retailer reported a consolidated net profit of Rs 58.36 crore for the fourth quarter ended March 2021. Its total income was up 9.03 percent to Rs 1,407.45 crore as against Rs 1,290.87 crore in the corresponding period of the previous fiscal.

May 07, 2021 / 10:08 AM IST
Raymond | Representative image

Raymond | Representative image

 
 
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Raymond share price jumped over 5 percent intraday on May 7, a day after the company declared its March quarter results.

The fabric and fashion retailer on May 6 reported a consolidated net profit of Rs 58.36 crore for the fourth quarter ended March 2021.

The company had posted a net loss of Rs 69.10 crore during the January-March period of the previous fiscal, Raymond said in a regulatory filing. However, its total income was up 9.03 percent to Rs 1,407.45 crore as against Rs 1,290.87 crore in the corresponding period of the previous fiscal.

Revenue from textiles climbed 24.09 percent to Rs 722.10 crore as against Rs 581.90 crore earlier. Revenue from shirting segment was up 12.2 percent to Rs 133.17 crore from Rs 118.69 crore. However, apparel revenue dropped 39.5 per cent to Rs 174.96 crore as against Rs 289.27 crore.

The stock was trading at Rs 347.35, up Rs 19.20, or 5.85 percent at 09:55 hours. It has touched an intraday high of Rs 351.30 and an intraday low of Rs 336.

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The scrip also witnessed a spurt in volume by more than 3.25 times and was trading with volumes of 79,344 shares, compared to its five day average of 22,687 shares, an increase of 249.74 percent.

Real estate and development of property segment revenue jumped 42.53 per cent to Rs 54.12 crore as against Rs 37.97 crore. For the fiscal year 2020-21, Raymond reported a net loss of Rs 303.65 crore. It had posted a net profit of Rs 201.76 crore in the previous year.

Total income for the entire fiscal dropped 44.5 per cent to Rs 3,647.83 crore. It was Rs 6,578.30 crore in 2019-20. Raymond said consumer sentiments have been hit due to the resurgence of the COVID-19 pandemic and imposition of local lockdowns are impacting its retail store operations.
Moneycontrol News
first published: May 7, 2021 10:08 am

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