Categories Earnings, Research Summary, Retail

Raymond Limited Q3FY23 Earnings Story

Raymond Limited, founded in 1925, is a diversified firm having holdings in the textile and apparel industries as well as presence across varied categories including real estate, FMCG, and engineering. The company operates a retail network of 1,638 locations, comprising 1,589 locations in over 600 Indian towns and cities and 49 international locations in nine other countries. It is among the biggest global producers of worsted suiting fabric that is vertically and horizontally integrated.

Financial Results:

Raymond announced a 4.42 percent fall in net profit for the December quarter to ₹ 96.60 crore, mostly due to an unexpected tax bill.

According to a regulatory filing by Raymond, the business reported a net profit of ₹ 101.07 crore from October through December of the previous fiscal year.

In comparison to the same quarter last year, its operating revenue increased 17.61% to ₹ 2,168.16 crore from ₹ 1,843.39 crore.

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