Raymond Q3 net loss reduced to Rs 14.69 crore

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New Delhi | January 25, 2017 9:59 PM

Diversified group Raymond today said its consolidated net loss reduced to Rs 14.69 crore for the third quarter ended December 31, 2016.

 The company had posted a consolidated net loss of Rs 39.08 crore during the October-December period of previous financial year, Raymond said in a filing to the BSE. (Reuters)The company had posted a consolidated net loss of Rs 39.08 crore during the October-December period of previous financial year, Raymond said in a filing to the BSE. (Reuters)

Diversified group Raymond today said its consolidated net loss reduced to Rs 14.69 crore for the third quarter ended December 31, 2016. The company had posted a consolidated net loss of Rs 39.08 crore during the October-December period of previous financial year, Raymond said in a filing to the BSE. Its total consolidated income from operations during the quarter under review was down 5.57 per cent to Rs 1,306.93 crore as against Rs 1,384.16 crore in the corresponding period of last financial year.

Its total consolidated income from operations during the quarter under review was down 5.57 per cent to Rs 1,306.93 crore as against Rs 1,384.16 crore in the corresponding period of last financial year. “EBITDA impacted mainly due to reduction in textile sales volume,” the company said. It further added: “Branded textile segment declined mainly due to lower sales volume on account of demand contraction” and “Wholesale and MBO channels effected most due to cash crunch.”

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It further added: “Branded textile segment declined mainly due to lower sales volume on account of demand contraction” and “Wholesale and MBO channels effected most due to cash crunch.” Shares of Raymond today settled at Rs 514.85 on BSE, down 1.55 per cent from previous close.

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