Raymond Lifestyle Ltd Q3 net profit declines 61 percent to Rs 64 crore

Raymond Lifestyle Ltd reported a 61 percent decline in its consolidated net profit to Rs 64 crore ($7.4 million) for the third quarter ending December 31, 2024, as against Rs 162 crore in the year-ago quarter.

The company’s revenue for the quarter stood at Rs 1,754 crore, as against Rs 1,726 crore in the corresponding quarter of the previous fiscal year.

Raymond’s total expenditure rose significantly to Rs 1,708.37 crore from Rs 1,546.22 crore in the corresponding fiscal period last year.

Commenting on the results, Sunil Kataria, managing director of Raymond Lifestyle Ltd in a statement said, “Q3FY25 continued to be a challenging quarter for our business. Despite weaker market conditions, our efforts have resulted in low single digit revenue growth.”

“During the quarter we have expanded into the innerwear category by launching Park Avenue Innerwear, which has received positive feedback from the trade channel. Our focus remains on our strategy to build a long term sustainable and profitable business,” he added.

During the quarter the company opened 61 new stores including 14 ‘Ethnix by Raymond’ stores. Raymond’s total retail store network was at 1,653 stores as of 31st December 2024.