Speaking to CNBC-TV18, M Shiv Kumar, chief financial officer, Raymond, says the company‘s strong Q2 performance has been the result of a revival in its apparel business that has also helped make profits. “All other bisuness segments, too have seen an all-round improvement,†adds Kumar.
Raymond always follows the path of hedging its exposure. So this is a temporary phenomenon of Rs 8 crore, excluding this component - then there is a healthy growth of 12 percent in EBITDA and the profit after tax (PAT) level
M Shivkumar, CFO of Raymond says a bad year for apparel business and huge inventories has resulted in huge loss for the textile manufacturer. “The increase in power and staff costs has impacted the industry,†he told CNBC-TV18 in an interview.