Indian Fabrics Manufacturer Raymond’s First Quarter Revenue Doubles To 1,583

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Raymond Limited, an Indian textile and clothing company, recorded a sales acceleration of 116% to 1,583 crore in the second quarter (Q2) of fiscal 22 ended September 30, 2021, compared to the figure business of 732 crore during the corresponding previous fiscal period. The company’s net profit for the quarter improved to ₹ 53 crore (Q2 FY21: loss ₹ 133 crore).

Raymond Limited, an Indian textile and clothing company, recorded a revenue acceleration of 116% to 1,583 crore in the second quarter (Q2) of fiscal 22 ended September 30, 2021, compared to the figure business of 732 crore during the corresponding previous fiscal period. The company’s net profit for the quarter improved to ₹ 53 crore (T2 FY21: loss ₹ 133 crore).

“All of our businesses performed well in the second quarter. Consumer-facing businesses are seeing a strong resurgence in demand and we saw a slight week-over-week increase in the quarter. With the start of the holiday and wedding season, consumer sentiment is optimistic, mainly due to a large-scale vaccination campaign across the country, ” Gautam Hari Singhania, Chairman and CEO of Raymond Limited, said in a press release.

Raymond Limited, an Indian textile and clothing company, recorded a sales acceleration of 116% to 1,583 crore in the second quarter (Q2) of fiscal 22 ended September 30, 2021, compared to the figure business of 732 crore during the corresponding previous fiscal period. The company’s net profit for the quarter improved to ₹ 53 crore (T2 FY21: loss ₹ 133 crore).

“With the opening of the global economy, our apparel export business continues to perform well with a healthy order book,” added Singhania.

Raymond Limited, an Indian textile and clothing company, recorded a revenue acceleration of 116% to 1,583 crore in the second quarter (Q2) of fiscal 22 ended September 30, 2021, compared to the figure business of 732 crore during the corresponding previous fiscal period. The company’s net profit for the quarter improved to ₹ 53 crore (Q2 FY21: loss ₹ 133 crore).

Regarding the commercial segments, Raymond said its branded textile segment has skyrocketed with a 214% sales increase to 722 crore, due to the demand for the holiday and wedding season which has started. from August. The branded clothing segment also saw a 211% increase in sales to 221 crore, demonstrating growth across all channels and the Company’s EBO (Exclusive Brands) and LFS (Large Format Stores) channels.

Raymond Limited, an Indian textile and clothing company, recorded a sales acceleration of 116% to 1,583 crore in the second quarter (Q2) of fiscal 22 ended September 30, 2021, compared to the figure business of 732 crore during the corresponding previous fiscal period. The company’s net profit for the quarter improved to ₹ 53 crore (Q2 FY21: loss ₹ 133 crore).

In addition, with the wholesale sales of the US and UK retail markets and the gradual reopening of the European market, the apparel sector sales improved by 13% to 212 crore from the previous year. T2 FY21. Sales of the high value cotton shirts segment increased 349% to 148 crore.

Raymond Limited, an Indian textile and clothing company, recorded a revenue acceleration of 116% to 1,583 crore in the second quarter (Q2) of fiscal 22 ended September 30, 2021, compared to the figure business of 732 crore during the corresponding previous fiscal period. The company’s net profit for the quarter improved to ₹ 53 crore (Q2 FY21: loss ₹ 133 crore).

“With the strength of the holiday and wedding season in the second half of this fiscal year, we are optimistic that the industry is on track for a strong recovery,” Singhania concluded.

Fibre2Fashion Information Office (JL)


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