Raymond lost 3.26% to Rs 472.55 at 9:44 IST on BSE after consolidated net profit declined 26% to Rs 68 crore on 19% growth in revenue to Rs 1471 crore in Q2 September 2014 over Q2 September 2013.
The Q2 result was announced after market hours yesterday, 29 October 2014.
Meanwhile, the S&P BSE Sensex was up 19.72 points or 0.07% at 27,117.89.
On BSE, so far 24,000 shares were traded in the counter as against average daily volume of 76,000 shares in the past two weeks.
The stock hit a high of Rs 478 and a low of Rs 468.75 so far during the day.
Raymond's EBITDA fell 11% to Rs 183 crore in Q2 September 2014 over Q2 September 2013.
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Raymond's CMD, Mr. Gautam Hari Singhania said that during the quarter, while revenue growth was in line with expectations, however profitability did not meet the company's desired targets, particularly in the Branded Textile segment and Engineering businesses. Branded Apparel segment continues to perform well. Mr Singhania said that the company is confident about the strategic director of its business and towards this end, the efforts to strengthen the brand and expand/modernize the retail network will continue.
Raymond offers end-to-end solutions for fabrics and garmenting.
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