Raymond posts Rs 69.10 crore net loss in Q4

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Raymond Ltd on Monday reported a consolidated net loss of Rs 69.10 crore for the fourth quarter ended March 2020, impacted by the coronavirus-induced lockdown. The company had posted a net profit of Rs 67.70 crore during January-March quarter of the previous fiscal, Raymond said in a regulatory filing.

Revenue from operations fell 29.30 per cent to Rs 1,278.65 crore during the quarter under review as against Rs 1,808.71 crore in the corresponding period of the previous fiscal.

"The Government of India had declared a lockdown on March 24, 2020 which had impacted the normal business operations of the group, its associates and joint ventures," the company said.

Raymond's total expenses declined 17.21 per cent to Rs 1,442.80 crore in Q4 of 2019-20 as against Rs 1,742.79 crore a year ago.

Revenue from textile segment fell 28.48 per cent to Rs 581.90 crore as against Rs 813.71 crore in the corresponding quarter a year ago.

While revenue from shirting was down 23.80 per cent to Rs 118.69 crore, revenue from apparel segment fell 40.85 per cent to Rs 289.27 crore in the quarter under review.

Revenue from garmenting declined 14.37 per cent to Rs 181.21 crore, while that from tools and hardware dipped 22.62 per cent to Rs 78.72 crore in the quarter ended March.

Revenue from auto components was down 30.81 per cent to Rs 47.21 crore as against Rs 68.24 crore a year ago.

For fiscal year 2019-20, Raymond's net profit rose 15.44 per cent to Rs 201.76 crore as compared with Rs 174.77 crore in 2018-19.

Revenue from operations declined 1.51 per cent to Rs 6,482.37 crore in 2019-20 as against Rs 6,582.28 crore in 2018-19.

Shares of Raymond Ltd on Monday closed 2.03 per cent lower at Rs 287.15 on the BSE.