Raymond back in black

Gautam Singhania led premium textile major Raymond Ltd has reported net profit of Rs 42.57 crore for the third quarter ended December 31, 2009 as against net loss of Rs 15.20 crore in 2008.

Gautam Singhania led premium textile major Raymond Ltd has reported net profit of Rs 42.57 crore for the third quarter ended December 31, 2009 as against net loss of Rs 15.20 crore in 2008.

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The company reported gross sales turnover of Rs 372.33 crore against Rs 357.92 crore in 2008.

Raymond’s wholly-owned subsidiary in Portugal filed for insolvency in December, and it has made provision of Rs 12.14 crore for value loss on this front.