Business EconomyPosted at: Nov 6 2024 4:46PM


Raymond Lifestyle net dips 69.7 per cent to Rs 42.18 crore in Q2

New Delhi, Nov 6 (UNI) Raymond Lifestyle Limited, an integrated manufacturer of worsted suiting, fabric and garmenting, on Wednesday reported 69.7 per cent dip in net profit at Rs 42.18 crore y-o-y basis during Q2 (July-September) of current financial year versus Rs 139.33 crore in the same quarter of last financial year.
Total income of the company also came down to Rs 1,735 crore in the Q2 as against Rs 1,849 crore in the Q2 of fiscal 2023-24, a dip of 6.2 per cent, the company said in a regulatory filing with the stock exchanges.
Commenting on the performance, Sunil Kataria, Managing Director of Raymond Lifestyle Limited said “Raymond Lifestyle Limited had a stable quarterly performance amidst subdued demand, weaker consumer sentiment and higher inflationary pressures. Our continued focus on retail expansion led to reaching 1,592 stores including 129 stores in Ethnix by Raymond. We have launched Sleepz and getting good responses from trade channel. Recent buoyancy has been witnessed at the start of a festive & wedding season. Going forward, we are strategically positioned to capture demand through our retail expansion plans, new product launches and marketing campaigns”.
Branded Textile segment revenue declined to Rs 854 crore in Ǫ2 FY25 vs Rs 933 crore in Ǫ2 FY24 predominantly on account of muted customer demand and “Shraadh” in month of September. EBITDA margins at 18.9% as compared to 22.2% in the previous quarter impacted due to lower revenues, the company claimed.
Branded Apparel segment revenue grew marginally to Rs 441 crore in Ǫ2 FY25 as compared to Rs 437 crore in the same quarter last year. The performance was driven by new stores additions despite subdued consumer demand and challenging market conditions.
The segment reported an EBITDA margin of 13.0%, higher as compared to 12.2% in the previous year driven by focus on intake margins. During the quarter we have opened 52 new stores including 11 ‘Ethnix by Raymond’ stores. The total retail store network now stands at 1,592 stores as of 30th September 2024, the company said.
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