Textile major Raymond on Tuesday reported the consolidated profit at`68 crore, an increase of 27% year-on-year during the three months ended March 2019. Both the consolidated earnings before interest, tax, depreciation and amortisation (Ebitda), and total revenue rose 11% y-o-y for the quarter under review, to `195 crore and `1,837.11 crore, respectively. Ebitda margin remained stable at 10.6%, the firm said.
The branded textile revenue grew 4% over the previous year, with sales at `832 crore, driven by 3% growth in the suiting business and 9% rise in the shirting business.
The revenue growth was attributed to store expansion through The Raymond Shop (TRS) and multi-brand outlets. The segment saw a 16% y-o-y decrease in Ebitda which stood at `132 crore and a fall of 360 basis points at 15.9% of
Ebitda margin during Q4 FY19. This was mainly due to an increase in higher advertising and sales promotion expense and channel stock correction in shirting business.
The sales in branded apparel grew 21%, with `489 crore in Q4 FY19 as compared to `403 in Q4 FY18. The strong performance and double-digit growth across all brands, including 20% growth in Raymond Read to Wear segment and Parx, was attributed as the reason for good performance, the firm said.