Financial Daily from THE HINDU group of publications
Friday, Oct 28, 2005
Financial Daily from THE HINDU group of publications Friday, Oct 28, 2005 |
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Corporate Results
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Textiles Raymond Q2 net up 15 pc Our Bureau
Mumbai , Oct. 27 RAYMOND Ltd's net profit for the quarter ended September 30, 2005, rose 15 per cent to Rs 36.83 crore over Rs 32.04 crore in the year-ago period . Its net sales rose to Rs 349.88 crore (Rs 338.73 crore). Other income moved up to Rs 23.13 crore (Rs 8.84 crore). During the quarter, the company made long-term investments of Rs 4.85 crore in equity/preference shares of its joint venture company - Raymond Fedora Private Ltd - and invested Rs 34.30 crore in Raymond Apparel Ltd, Rs 23.47 crore in Scissors Engineering Products Ltd and Rs 2.41 crore in JK Talabot Ltd. The company said that it was continuing with its cost restructuring operations and had written off Rs 3.7 crore paid as VRS during the quarter. The capacity expansion undertaken last year helped the denim business achieve a 14 per cent revenue growth. Its textile exports grew 17 per cent, primarily aided by sales through the garmenting route. The company has managed to improve price realisations in its textiles and files businesses. It has taken steps to increase capacity in existing businesses and through greenfield projects and the benefits are likely to accrue over the medium term. The shares of Raymond ended unchanged at Rs 400 on the BSE.
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