Raymond, an Indian apparel and textile company, has announced its financial results for the fourth quarter ended on March 31, 2018.
During the period under review, with a massive 61.46 per cent increase, the textile manufacturing company’s consolidated net profit stood at Rss 54.38 crores as compared to Rs. 33.68 crores in the corresponding period last year.
The textile company’s total income during the third quarter increased by 9.91 per cent to settle at Rs. 1,655.12 crores as against Rs. 1,505.75 crores in the same quarter last fiscal.
It also reported an 8.79 per cent increase in its total expenses to Rs. 1,578.96 crores during the January-March quarter from Rs. 1,451.34 crores in the same period last year.
Furthermore, Raymond reported a more than three-fold increase in its net profit to Rs. 141.55 crores as against Rs. 30.02 crore in 2016-17.
The reporting quarter also witnessed some strong decisions by the company to revamp its retail business in order to minimise losses and shuttering of around 25 underperforming stores in the 2018 financial year.
Raymond will also work on reconditioning 50 of its loss-making stores to boost sales. Rs. 15 crores has already been allocated by the firm for the expansion and renovation of stores.
The company aims to increase its pan-India store count to 1,500 by the year 2020, notably.
Bharat Tex Special Report 2026 
