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Raymond reports Rs 560 million net profits for Q4FY21

May 10, 2021
Raymond reports Rs 560 million net profits for Q4FY21

Mumbai, Maharashtra

Raymond, India's largest integrated worsted suiting manufacturer announced its fourth quarter results for the year ending March 31, 2021. The company’s net profits stood at Rs 560 million as against a net loss of Rs 680 million reported last year.

The company’s net sales gained 6.8% to reach Rs 13.66 billion. EBITDA rose to Rs 1970 million in Q4 FY21 from Rs 50 million in Q4 FY20. The net debt reduced to Rs 14.16 billion from Rs 15.83 billion in December 2020.

Gautam Hari Singhania, Chairman and Managing Director (MD), Raymond, stated that the quarter saw Branded Textile segment along with Engineering and Real Estate businesses perform well. He added that with the COVID-19 pandemic being rampant, he hopes the business to regain momentum once vaccination gains pace.

The share price of Raymond surged over 5% on May 7, 2021; a day after the company's Q4 results for FY21 was released.

Source: Business Standard, Good Returns

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