Raymond Ltd has posted net sales of Rs. 277.44 crore for
the third quarter ended December 31, 2003, against Rs.275.38
crore in the corresponding period last year. Profit before
tax (PBT) rose to Rs.41.48 crore against Rs.27.42 crore
in the corresponding quarter in 2002, while the net profit
after tax for the third quarter rose by 60 per cent to
Rs 30.55 crore, from Rs.19.10.
PBT for nine month period April to December 2003, was
higher by 44.54 per cent at Rs.125.88 crore against Rs.87.09
crore during the same period last year, while the net
profit after tax for the nine month period rose by 57
per cent to Rs.90.96 crore (Rs.57.82 crore last year).
Net sales were up by 6.5 per cent at Rs.785.86 crore (Rs.737.67
the third quarter, the revenue of the textiles division
declined in the third quarter to Rs.192.34 crore from
Rs.200.35 crore on sales volumes of 5.50 million metres
down from 5.63 million metres. Despite a steep
rise in the prices of wool and polyester, the textile
division achieved a higher profit of Rs.28.30 crore (up
from Rs.22.51 crore) due to better management of costs.
the denim division recorded a growth of 33.13 per cent
with revenues of at Rs.51.31. crore (up from Rs.38.54
crore) with sales volumes increasing 32.17 per cent at
4.56 million metres. From 3.45 million metres.
on the results, Gautam Hari Singhania, chairman and managing
director of the company said: "Despite continued
conditions and increasing input costs, we have been able
to maintain a satisfactory third quarter and overall performance
during the nine months of the financial year."