Raymond Q1 loss at Rs 13.72 crore

NEW DELHI: Diversified group Raymond today reported narrowing down of its consolidated net loss at Rs 13.72 crore for the first quarter ended June 30, 2015, on account of high revenue growth.

The company had posted a consolidated net loss of Rs 32.85 crore 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 per cent to Rs 1,121.69 crore as against Rs 1,096.75 crore during the same period of last financial year, Raymond said in a filing to the BSE.

Commenting on the results Raymond Chairman and Managing Director Gautam Hari Singhania said:" 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".

He further added 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.

Over the outlook, Singhania said: "Our continued thrust on investment in brand building through higher ad spends, store roll-outs, store innovation etc will enable us to improve our performance going forward".

Shares of Raymond today settled at Rs 469.30 on the BSE, up 1.97 per cent from previous close.