Raymond Lifestyle Faces Net Profit Decline Amidst Economic Challenges

Raymond Lifestyle reported a 69.72% drop in net profit for Q2 FY25 due to subdued demand and inflation. The firm's revenue from operations decreased by 5.27% to Rs 1,708.26 crore, influenced by lower textile segment sales and logistical issues impacting garmenting. Retail expansion remains a focus amidst economic headwinds.

Raymond Lifestyle has announced a significant decline in its consolidated net profit, seeing a 69.72% drop to Rs 42.18 crore for the quarter ending September 2024. The company attributed this downturn to subdued market demand and heightened inflationary pressures.

Compared to the previous year's net profit of Rs 139.33 crore in the same quarter, the company also reported a 5.27% fall in revenue from operations, totaling Rs 1,708.26 crore. Managing Director Sunil Kataria highlighted the stable performance amidst challenging circumstances, noting strategic retail expansion as a key factor moving forward.

The textile segment saw an 8.48% revenue decline, predominantly due to lower customer demand. However, shirt fabric sales increased by 8.31%, despite logistical challenges that impacted garment dispatches. The company continues its retail growth, operating over 1,500 outlets, with plans to capitalize on festive season demand.

(With inputs from agencies.)