27 Jan , 2022 By : monika singh
NEW DELHI – Shares of Raymond NSE -1.13 % climbed 4.4 per cent in early trade on Thursday as the textile major reported a multifold jump in its net profit at Rs 101.07 crore for the third quarter ended December 2021, helped by improved performance across the segment.
The company had posted a net profit of Rs 22.18 crore during the corresponding quarter of the previous financial year.
Raymond’s scrip rose to a high of Rs 819 as against the previous close of Rs 784.15 on the National Stock Exchange.
The company’s revenue from operations was up 48.25 per cent to Rs 1,843.39 crore during the quarter under review as against Rs 1,243.44 crore in the corresponding period of the previous fiscal, PTI reported.
According to a release by the company, Raymond has reported "highest profitable quarter in last 10 years" and its revenue is now "100 per cent of pre-Covid levels", PTI reported.
Commenting on the result, Raymond Chairman & Managing Director Gautam Hari Singhania said: "With our focused approach on capitalizing on the growing demand for our products and continued cost optimization, we delivered record profitability. We generated free cash flows to reduce debt and are progressing towards being a net debt free business,” PTI reported.
0 Comment