Raymond narrows Q1 loss to Rs 32.85 crore

Diversified group Raymond has narrowed down its consolidated net loss to Rs 32.85 crore in the first quarter ended on June 30, due to improved performance of its lifestyle business.
The company had posted a consolidated net loss of Rs 49.68 crore during April-June quarter in the previous financial year.
Total consolidated income from operations rose to Rs 1,096.09 crore in the first quarter as against Rs 873.79 crore during the same period of last financial year, Raymond said in a filing to the BSE.
Commenting on the results, Raymond CMD Gautam Hari Singhania said: "The current quarter saw improved performance in the lifestyle business (comprising textiles, apparel & garmenting). The engineering business performance is in line with expectations for the quarter and the business is geared to deliver better performance in the ensuing quarters."

On the future outlook, he said Raymond would keep on investing for growth during the year through brand building, retail network expansion and capacity expansion in the business having export potential.
Raymond's consolidated revenue from its textiles division increased 27 per cent to Rs 484.18 crore during the quarter under review. It was Rs 382.45 crore during the same period of the last fiscal.

Consolidated revenue from apparel and garmenting segment were respectively Rs 213.55 crore and Rs 179.31 crore during the first quarter of FY 2014-15 as against Rs 151.52 crore and Rs 157.93 crore of the same quarter of FY 2013-14.

Meanwhile, consolidated revenue from tools and hardware was Rs 94.83 crore in the April-June quarter this fiscal as against Rs 94.28 crore of the same period last fiscal.
Consolidated revenue from auto components also increased to Rs 70.43 crore during the quarter under review this fiscal as against Rs 65.23 crore of the same quarter last fiscal.
Shares of Raymond today closed at Rs 419.75 per scrip on the BSE, down 3.74 per cent from previous close.