Raymond Lifestyle's Q3 Profits Plunge Amid Market Challenges
Raymond Lifestyle Ltd reported a 60.5% decline in consolidated net profit for Q3 FY25, attributed to unfavorable market conditions and increased expenses. Despite a small revenue growth, the company plans to focus on retail expansion, product innovation, and marketing to ensure long-term sustainability.
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- Country:
- India
Raymond Lifestyle Ltd reported a drastic 60.5% dip in its consolidated net profit to Rs 64.17 crore for the third quarter ending December 31, 2024. The downturn was largely due to challenging market conditions and a spike in expenses.
In comparison, the company had achieved a net profit of Rs 162.43 crore in the equivalent quarter of the last fiscal year, disclosed in their regulatory filing. Revenue from operations in the current quarter was slightly higher at Rs 1,754.21 crore compared to Rs 1,726.26 crore in the previous year.
Total expenditure rose significantly to Rs 1,708.37 crore from Rs 1,546.22 crore in the corresponding fiscal period last year, as noted by Raymond Lifestyle. The company continues its focus on retail expansion, product innovation, and marketing, aimed at ensuring long-term sustainable business operations.
(With inputs from agencies.)