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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
Raymond's sales may increase to Rs 921.6 crore from Rs 837.7 crore and earnings before interest, tax, depreciation & amortisation (EBITDA) are likely to rise at Rs 32.8 crore from Rs 30.92 crore year-on-year, says Nomura.
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.