Stock Market update: Raymond shares up by almost 3% post Q3 results

Stocks of Raymond Ltd rose by 2.87% to ₹803.15 per equity share against the previous close at ₹784.15 per share, in today’s early trade.

The shares of Raymond Ltd have gone up by 2.87% at ₹803.15 per share against the previous close at ₹784.15 per share, in today’s early trade on NSE. Raymond Ltd on Tuesday reported a multi-fold jump in its net profit to Rs 101.07 crore for the third quarter ended in December 2021.

The company had posted a net profit of Rs 22.18 crore during the October-December of the previous fiscal, Raymond said in a regulatory filing. Its revenue from operations was up 48.25 per cent to Rs 1,843.39 crore during the quarter under review as against Rs 1,243.44 crore in the corresponding period of the previous fiscal.

According to the company, it has reported the “highest profitable quarter in last 10 years” and its revenue is now “100 per cent of pre-Covid levels”.

Commenting on the result, Raymond Chairman & Managing Director Gautam Hari Singhania said “With our focused approach on capitalizing on the growing demand for our products and continued cost optimization, we delivered record profitability. We generated free cash flows to reduce debt and are progressing towards being a net debt-free business.”

Raymond’s total expenses were at Rs 1,685.03 crore, up 32.22 per cent in Q2/FY 2021-22, as against Rs 1,274.38 crore.

Subscribe to our newsletter
Subscribe to our newsletter
Sign up here to get the latest news delivered directly to your inbox.
You can unsubscribe at any time