Raymond Limited Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016
January 25, 2017 at 07:29 am EST
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Raymond Limited reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, the company reported net sales/income from operations of INR 13,068.7 million against INR 13,802.1 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 196.1 million against INR 775.1 million a year ago. Loss before tax was INR 57.8 million against profit before tax of INR 464.5 million a year ago. Net loss for the period was INR 148.9 million or INR 2.58 per share basic and diluted against net profit for the period of INR 390.8 million or INR 6.34 per share basic and diluted a year ago. EBITDA was INR 820 million against INR 1,360 million a year ago.
For the nine months, the company reported net sales/income from operations of INR 39,177.2 million against INR 37,747.8 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 885.5 million against INR 1,551.8 million a year ago. Profit before tax was INR 243.6 million against INR 416.8 million a year ago. Net loss for the period was INR 36.8 million or INR 1.21 per share basic and diluted against net profit for the period of INR 311.6 million or INR 5.25 per share basic and diluted a year ago. EBITDA was INR 2,780 million against INR 3,330 million a year ago.
Raymond Limited is an India-based integrated suiting manufacturer that offers end-to-end solutions for fabrics and garmenting. The Company operates through eight segments: Textile, which includes branded fabric; Shirting, which includes shirting fabric; Apparel, which includes branded readymade garments; Garmenting, which includes garment manufacturing; Tools and Hardware, which is engaged in the business of manufacturing, sale and distribution of precision engineered components for tools and hardware, such as steel files and drills, and marketing, sale and distribution of hand tools, power tool accessories and power tool machines; Auto Components; Real Estate and Development of Property; and Others, which includes non-scheduled airline operations. Its various brands include Raymond, Park Avenue, ColorPlus, Raymond Ready to Wear, Parx, Ethnix, Raymond Home and Raymond Made to Measure, among others. Its subsidiaries include Raymond Apparel Limited, and R&A Logistics Inc., among others.