Consolidated net loss of premium textiles manufacturer Raymond Ltd widened to Rs. 49.68 crore in the quarter ended June 30 against Rs. 34.98 crore in the corresponding period a year ago.
Net sales, however, increased 4.5% to Rs. 874 crore from Rs. 836 crore a year earlier, the company said in a filing to the BSE.
Sales of textiles, which contribute substantially to revenue, and profitability are of a seasonal nature, the company said in a statement on Thursday. Sales of high value added products are linked to festivals and winter seasons, it added.