Raymond Q4 Results: Profit falls 26% to Rs 196.5 crore; income rises 10% to Rs 2,150 crore

Textile and apparel maker Raymond Ltd reported a 25.84% decline in its consolidated net profit at INR 196.48 crores during the Q4 ended on 31 March 2023, due to exceptional items. However, its revenue from operations was up 9.8% to INR 2,150.18 crores during the same period. The company registered a loss of INR 93.03 crore on exception items such as expected credit loss of trade receivables, leading to a growth of 44% in the garmenting segment with strengthened sales in the US and Europe markets. In FY23, Raymond’s net profit increased to INR 536.96 crore.