Raymond after market hours Friday reported narrowing down of its consolidated net loss at Rs 137.2 million for the first quarter ended June 30 on account of high revenue growth.
The garment maker had posted a consolidated net loss of Rs 328.5 million during the April-June period of previous financial year.
Raymond's total consolidated income from the operation during the quarter under review increased by 2.27% to Rs 11.22 billion compared with Rs 10.97 billion during the same period a year ago.
"The current quarter witnessed a subdued consumer sentiment in the domestic market and sluggish demand in the exports market, particularly in the garmenting and automotive segments," said Gautam Hari Singhania, chairman and managing director, Raymond
Singhania also said that despite these challenges, Raymond has been able to register a marginal top-line growth at the consolidated level and margin improvement at EBITDA level.
Friday, share prices of Raymond Ltd ended at Rs 469.30, up 1.97% on the Mumbai Stock Exchange.
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