Raymond Shares Slide In Early Trade After Q4 Earnings

Raymond’s share price was back in the red on Wednesday after the company reported its earnings for the March quarter.

What Happened: The company’s revenue from operations grew 9.8% year-over-year to ₹2,150.2 crore. The branded textile segment reported sales of ₹902 crore as against sales of ₹886 crore in the same quarter last year.

The branded apparel segment reported revenue growth of 19% with sales at ₹332 crore in the quarter ended March compared to the ₹279 crore revenue it brought in the same quarter last year. The company’s real estate segment took a hit as sales went down 10.2% YoY to ₹289 crore.

See Also: Why TCNS Clothing Shares Hit Lower Circuit On Monday

The company recorded its highest quarterly EBITDA at ₹379 crore. EBITDA margin for the review period stood at 17.3%. The company’s net profits took a hit in the March quarter going down 26% YoY to ₹194.3 crore. Earnings per share for the quarter stood at ₹29.19 crore. The textile giant also declared a ₹3/share for the year ended March.

Price Action: Raymond’s share price was down 0.59% to trade at ₹1,590 as the markets opened on Wednesday.

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