Raymond reported its quarterly results for the first quarter of FY25 on Tuesday.
What Happened: The firm reported a net profit of ₹57 crore, up around 27% from the ₹45 crore in the year-ago period. Revenue from operations increased to ₹937.65 crore, up from ₹473 crore in the same quarter last year. Total revenue soared 93% to ₹998 crore.
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The company recorded an EBITDA of ₹162 crore in the April to June period making an 82% year-on-year jump. The EBITDA margin stood at 16.2%.
"Our real estate business continues to expand its portfolio through the JDA route and we have been appointed as preferred developer in our fourth project outside thane land in Bandra MIG, Gautam Hari Singhania, Chairman & Managing Director of Raymond Limited said commenting on the company's performance.
"During the quarter we have successfully demerged the Lifestyle business into a separate company that will be listed in Q2FY25," he added.
Raymond also announced on July 4 that it would also demerge its realty business from the parent company. After both the spin-offs, Raymond will be an engineering company with three segments: steel files and tools and hardware, auto and electric vehicle components as well as aerospace and defence, Motilal Oswal said.
Price Action: Shares of Raymond were up 0.95% at ₹1,925.95 on Tuesday.
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