Raymond has declined around 4.3% to Rs 467.30 on BSE in early trading after reporting a fall of 26% in its net profit at Rs 68 crore during the July-September quarter of 2015 fiscal compared to the same quarter last fiscal. The net sales of the company increased by 19% to Rs 1471 crore during the second quarter of 2015 fiscal
The textile business witnessed an increase of 23% in sales in the second quarter in Q2 to Rs 694 crore, however, the EBIDTA for the quarter was impacted due to product mix, higher input cost and The Raymond Shop renovation.
The apparel business also saw its EBIDTA fall by 5% on the back of higher ad spends. Sales during the quarter stood at Rs 293 crore. Luxury cotton shirting fabrics business saw its EBIDTA margins improve by 5.8% to 16.8% due to better realisations and one off income of Rs 6.50 crore during the the September quarter.
Till 09:25 AM, the shares have hit a low of Rs 468 after opening at Rs 478 and around 11,000 shares have changed hands on BSE and NSE combined.
