Raymond’s Shares Surge 5% on Strong Q4 Figures, Net Profit Rallies 354% YoY

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Raymond’s Shares Surge 5% on Strong Q4 Figures, Net Profit Rallies 354% YoY
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the fabric and fashion retailer Raymond (NS: RYMD ) surged 4.5% to Rs 848.6 apiece at 12:14 pm on Tuesday, after shooting 6.2% higher earlier in the session.

The stock uptick was a result of an over four-fold jump in the company’s consolidated net profit to Rs 264.97 crore in the quarter ending March 2022. The figure rallied over 354% on a YoY basis in the period.

Its revenue surged 43.4% YoY to Rs 1,958.1 crore in the quarter, and total expenses climbed 33.36% YoY to Rs 1,790.12 crore.

The company recorded its highest-ever quarterly profit and revenue figures in Q4 FY22.

Its EBITDA margin stood at a robust 22.7%, led by the higher realization and operational efficiencies.

"We have witnessed demand recovery across all our businesses to pre-covid levels, and with our effective cost management, we have delivered the highest profitability for the quarter and the year," stated the company management.

For the financial year ending March 2022, Raymond’s recorded a consolidated net profit of Rs 265.12 crore, compared to a net loss of Rs 303.65 crore in FY21, while its revenue from operations jumped 79.29% YoY to Rs 6,178.51 crore in the year.

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