Raymond Q1 Loss Narrows to Rs 32.85 Crore

New Delhi: Raymond has narrowed down its consolidated net loss to Rs 32.85 crore in the quarter ended June, due to improved performance of its lifestyle business.

The diversified group had posted a consolidated net loss of Rs 49.68 crore in the corresponding period a year ago. Total consolidated income from operations rose to Rs 1,096.09 crore in the first quarter as against Rs 873.79 crore during the same period of last financial year, Raymond said in a filing to the BSE.

"The current quarter saw improved performance in the lifestyle business (comprising textiles, apparel & garmenting). The engineering business performance is in line with expectations for the quarter and the business is geared to deliver better performance in the ensuing quarters," Raymond CMD Gautam Hari Singhania said.

On the future outlook, he said Raymond would keep on investing for growth during the year through brand building, retail network expansion and capacity expansion in the business having export potential.

Raymond's consolidated revenue from its textiles division increased 27 per cent to Rs 484.18 crore during the quarter under review. It was Rs 382.45 crore during the same period of the last fiscal year.

Consolidated revenue from apparel and garmenting segment were respectively Rs 213.55 crore and Rs 179.31 crore during the first quarter of FY 2014-15 as against Rs 151.52 crore and Rs 157.93 crore of the corresponding quarter of FY14.

Meanwhile, consolidated revenue from tools and hardware was Rs 94.83 crore in the April-June quarter this fiscal year as against Rs 94.28 crore of the same period last fiscal year.

Consolidated revenue from auto components also increased to Rs 70.43 crore during the quarter under review this fiscal year as against Rs 65.23 crore of the same quarter last fiscal year.

Shares in Raymond, on Friday, ended at Rs 419.75 apiece on the BSE, down 3.74 per cent from the previous close.