Raymond Q1 net down 38%

Raymond today reported a 38% decline in net profit at Rs 11.61 crore for the quarter ended June 30, 2006 when compared with Rs 18.81 crore in Q1FY06.

According to a release issued by the company to the BSE today, total income increased to Rs 298.47 crore from Rs 261.78 crore in Q1FY06.

Gautam Hari Singhania, chairman & managing director of the company, said:  "The capacity addition in the textile business and the partnerships forged with leading international players will contribute significantly to the company's business in the coming years."