Raymond’s share price surges by 5%
To begin with, on 23 January, Raymond’s share price increased by 5%. Besides, the company had posted a good set of numbers for the December 2019 quarter.
Moreover, the group exists as an Indian branded fabric and fashion retailer. Besides, it also has business interests in readymade garments and designer wear. Also, in cosmetics & toiletries, engineering files & tools prophylactics, and air charter operations. Significantly, in 2019, the company has announced its venture into real estate businesses too. Precisely, the Raymond company holds over 125 acres of land in the suburb of Thane.
However, in the third quarter of FY20, the net profit hit to Rs 196.8 crores. While it stood at Rs 40 crores in the same quarter last fiscal.
Despite this, the revenue of the company has increased by 12.5% at Rs 1,885.4 crores. Whereas it stood at Rs 1,675.2 crores year-on-year.
Furthermore, earnings before interest, tax, depreciation, and amortization (EBITDA) remained high with 33.4 percent at Rs 206.2 crores. Whereas the EBITDA margin stood up at 170 bps at 10.9 percent.
In the morning shares today, Raymond managed at Rs 684.55. Also, this means a high with Rs 11.45 or 1.70 percent on the Bombay Stock Exchange.