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Raymond Q4 results: Consolidated net profit falls 26% to Rs 194 crore

Raymond Q4 results: The company also announced a dividend of Rs 3 per equity share

Raymond
BS Web Team New Delhi
2 min read Last Updated : May 09 2023 | 3:20 PM IST
Raymond Ltd on Monday reported a 26 per cent fall in net profit to Rs 194 crore in the quarter ended March 31, 2023, compared to Rs 263 crore in the same quarter in 2021-22 (Q4FY22). The company's net profit, however, rose 8 per cent to Rs 2,192 crore during the quarter.

The company also announced a dividend of Rs 3 per equity share.

The adjusted net profit was up 50 per cent to Rs 129 crore from Rs 86 crore in Q4FY22. In Q4FY22, Rs 177 crore of deferred tax assets (DTA) was created as compared to Rs 65 crore in Q4FY23.

In the quarter, the company recorded its highest-ever quarterly EBITDA at Rs 379 crore, with an EBITDA margin of 17.3 per cent.

In 2022-23 (FY23), the net profit more than doubled to Rs 529 crore from Rs 260 crore in FY22. The net revenue was up 31 per cent to Rs 8,337 crore.

Gautam Hari Singhania, chairman and managing director of Raymond Limited, said, "FY23 has been a year of exponential growth, as we doubled our net profit compared to the previous year with strong growth in revenues delivered across all businesses. As we have charted out a clear roadmap for sustained growth, the recent corporate action announcements will fuel the company's future with a clear focus on the B2C lifestyle business and real estate business. In our continued commitment to creating shareholder value, I am delighted to state that these two new entities will have zero net debt and are poised to scale new heights."

During Q4FY23, the suiting company's branded textile segment reported sales of Rs 902 crore as compared to Rs 886 crore in Q4FY22. It reported an EBITDA margin of 21.8 per cent.

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The branded apparel segment saw a 19 per cent sales growth to Rs 332 crore. The EBITDA margin was 15.8 per cent.

The garments segment's sales rose 44 per cent to Rs 305 crore in the quarter. EBITDA margin was 6.6 per cent.

The company's high-value cotton shirting saw a 7 per cent rise in its sales to Rs 187 crore from Rs 175 crore last year. The EBITDA margin was 10.4 per cent. Its engineering business grew 7 per cent in the quarter to Rs 205 crore.

The real estate segment reported an EBITDA margin of 24.3 per cent in Q4FY23. 

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Topics :RaymondQ4 ResultsCompaniesBS Web Reports

First Published: May 09 2023 | 3:20 PM IST

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