Diversified group Raymond today registered an over four-fold jump in consolidated net profit at Rs 56.89 crore for the third quarter ended December 31 on account of margin expansion in key business segment.
The company had posted a consolidated net profit of Rs 12.84 crore during the same period of previous financial year.
Total consolidated income from operations rose to Rs 1208.15 crore for the October-December period as against Rs 1053.03 crore during the same period of last financial year, Raymond said in a filing to the BSE.
"We have ended the third quarter on a positive note, despite subdued discretionary spend witnessed in the month of December 2013.
"Our focus on profitability through margin expansion across key business segment has lead to a strong bottom line growth in the current quarter as well as for the period till date," Raymond Chairman and Managing Director Gautam Hari Singhania said.
On outlook, he said that Raymond's long term sustainable initiative in brands, retail, supply chain management and operational efficiency will able to surge ahead.
Shares of Raymond today closed at Rs 300.05 per scrip on the BSE, up 1.61 per cent from its previous close.
Raymond Group offers end-to-end solutions for fabrics and garmenting. It has several brands, including Raymond, Park Avenue, Parx, ColorPlus, among others. Also, the company manufactures men's accessories, personal grooming products and toiletries, energy drinks, files and tools and auto components.
