Business

Raymond Q1 net loss widens

  • PTI, New Delhi
  • |
  • Updated: Jul 26, 2013 12:44 IST

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.

 

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