Raymond Limited reported a net profit of Rs 160 crore ($20 million) for the second quarter ended September 30, as against Rs 159 crore in the year-ago period.
The company’s revenue for the quarter rose by 4 percent to Rs 2,253 crore, as against Rs 2,168 crore reported in the corresponding period of the previous fiscal year.
Commenting on the results, Gautam Hari Singhania, chairman managing director at Raymond Limited in a statement said, “The growth trajectory at Raymond continues its journey as we have recorded yet another stellar quarter. We continue to achieve milestones across businesses as we recently announced our second project under joint development in our real estate business with a potential of Rs 1,700 crore revenue.”
“With the onset of festivities and wedding season, we at Raymond are optimistic that there will be an uptick in the consumer demand and overall sentiments should remain positive,” he added.
During the quarter, Raymond opened 63 new stores including 17 Ethnix stores across tier I to 4 towns. The company’s store network was at 1,453 stores including 92 Ethnix stores as on 30th September 2023.
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