Net profit falls 89% to Rs 22 crore, Retail News, ET Retail

Davida Erdahl

NEW DELHI: Raymond Ltd on Tuesday reported an 88.7 per cent plunge in its consolidated internet profit to Rs 22.18 crore for the quarter ending December 2020.

The corporation had posted a internet profit of Rs 196.eighty three crore through the October-December interval of the former fiscal, Raymond mentioned in a regulatory submitting.

Its income from functions was down 34.one per cent to Rs one,243.44 crore through the quarter beneath evaluate as towards Rs one,885.43 crore in the corresponding interval of the former fiscal.

Commenting on the success, Raymond Chairman & Managing Director Gautam Hari Singhania mentioned: “With marketplaces and channels opening up and consumer sentiments having back on track, we are looking at desire for our merchandise & providers having improved on a quarter on quarter foundation and our sustained focus on operational efficiencies has yielded in a worthwhile quarter.

“In addition, our Engineering Companies are back on track

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