The revenue from the ‘textile’ segment was down to Rs 853.52 crore in the second quarter of the current fiscal (Q2FY25) from Rs 932.66 crore in Q2FY24
On account of weaker consumer sentiment and subdued demand, the net profit of Raymond Lifestyle took a hit and dipped by 69.72 per cent on a year-on-year (YoY) basis in the recently concluded quarter. The unaudited consolidated financial results of the company revealed that the consolidated net profit which was Rs 139.33 crore in Q2FY24 has declined to Rs 42.18 crore in Q2FY25.
As per the regulatory filing from the company, its revenue from operations was also down by 5.27 per cent on a YoY basis as it declined to Rs 1,708.26 crore in Q2FY25 compared to Rs 1,803.38 crore in Q2FY25. However, the firm reported an increase in its revenue from operations on a quarter-on-quarter basis as it increased from Rs 1,220.12 crore in Q1FY25. The total expenses of the company reduced from Rs 1,645.77 crore in Q2FY24 to Rs 1,622.95 crore in Q2FY25.
“Raymond Lifestyle had a stable quarterly performance amidst subdued demand, weaker consumer sentiment and higher inflationary pressures. Our continued focus on retail expansion led to reaching 1,592 stores including 129 stores in Ethnix by Raymond. We have launched Sleepz and getting good responses from trade channel. Recent buoyancy has been witnessed at the start of a festive & wedding season,” stated Sunil Kataria, Managing Director of the company.
The earnings before interest, tax, depreciation and amortisation (EBITDA) of the company was Rs 242 crore in Q2FY25, a decline from Rs 306 crore in the same quarter a year ago. The EBITDA margin which was 16.6 per cent in Q2FY24 was recorded at 13.9 per cent in Q2FY25.
As far as the segment performance is concerned, the revenue from the ‘textile’ segment was down to Rs 853.52 crore in Q2FY25 from Rs 932.66 crore in Q2FY24. The ‘shirting’ segment saw its revenue increase on a YoY basis to Rs 228.35 crore during the quarter. The ‘apparel’ segment’s revenue increased from Rs 436.64 crore in Q2FY24 to Rs 441.02 crore in the recently concluded quarter. The revenue from the ‘garmenting’ segment declined to Rs 259.60 crore during the quarter.
Raymond Lifestyle continued its focus on retail expansion and operated 1,592 stores including 129 in Ethnix by Raymond. The operating highlights of the company show that it added 52 new stores during the period.
