Raymond shares rose 3% in morning trade following the release of its Q2 earnings, which saw a significant drop in consolidated net profit. The company reported a 63% decline in net profit, totaling ₹59.01 crore, compared to ₹161.16 crore in the same period last year.
Despite this decrease, Raymond’s total income surged to ₹1,100.70 crore in Q2 FY24, up from ₹512.35 crore in Q2 FY23.
As of 9:28 am, Raymond shares were trading 2.93% higher at Rs 1,736.80 on the NSE.
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