Raymond announces Q3 net profit up 20% at Rs.38.37 Crores

Raymond Ltd has announced the following Unaudited results for the quarter ended December 31, 2006:

The Company has posted a net profit of Rs 383.70 million for the quarter ended December 31, 2006 as compared to Rs 305.50 million for the quarter ended December 31, 2005. Total Income (net of excise) has decreased from Rs 3594.20 million for the quarter ended December 31, 2005 to Rs 3240.60 million for the quarter ended December 31, 2006.

Announcing the result Mr. Gautam Han Singhania, Chairman & Managing Director, of the Company said, "The market for the textile and apparel business continues to be buoyant. The Company has identified retailing as its thrust area for future growth in the branded textiles and apparel space. The Company has embarked on an aggressive expansion plan for increasing its retail penetration and also entered into strategic partnerships with leading international players to enter into new product categories".

Source : Equity Bulls

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