Business Daily from THE HINDU group of publications
Sunday, Oct 25, 2009
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Business Daily from THE HINDU group of publications Sunday, Oct 25, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate Results
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Diversified Raymond net drops 69% on weak demand 
Mr Gautam Hari Singhania Our Bureau Mumbai, Oct. 24 Weak demand for apparel has led to a 69 per cent decline in textile major Raymond’s net profit at Rs 7.43 crore for July-September quarter against Rs 24.34 crore for the same period last year. Total income showed an eight per cent drop at Rs 402 crore. Raymond has specialty retail network in textile and apparel space with 604 retail stores across the country. The company now manufactures denim at two locations, India and Romania, after shutting down its loss making units in the US and Belgium. “We are bullish on the long term Indian consumption story and we believe in creating markets. We recently entered into tier-3/4/5 cities and towns with our brands,” Mr Gautam Hari Singhania, Chairman & Managing Director, Raymond Ltd, said in a statement. More Stories on : Diversified
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