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HindustanTimes Wed,23 Apr 2014

Raymond Q1 net loss widens

PTI  New Delhi, July 26, 2013
First Published: 00:42 IST(26/7/2013) | Last Updated: 00:44 IST(26/7/2013)

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.

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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.

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