Raymond Q3 net zooms 204%, plans studio in Italy

Raymond today reported a 204% increase in net profit at Rs 30.55 crore for the third quarter ended December 31, 2005 when compared with Rs 10.05 crore in Q3FY05.

According to a release issued by the company to the BSE today, total income increased to Rs 359.42 crore in Q3FY06 from Rs 314.75 crore in Q3FY05.

The company has announced plans to set up a design studio in Italy.

"The studio will be a joint venture to be formed between the company and Italy-based Gruppo Zambaiti. The studio will provide the company with strategic, cutting-edge design capabilities for all its textile and apparel businesses," the release added.