Raymond stock rises over 6% on stellar Q4 earnings

Shares of Raymond Ltd gained over 6 per cent today after the garments manufacturer reported a four-fold rise in Q4 net profit. Raymond stock opened with a gain of 5.72 per cent to Rs 860.10 against the previous close of Rs 813.55.  

It touched an intraday high of Rs 866.75, rising 6.54 per cent on BSE. The stock has gained 13.54 per cent in the last three days. Raymond stock is trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Shares of Raymond have gained 137 per cent in a year and risen 36.42 per cent in 2022.  

The market cap of Raymond Ltd rose to Rs 5,642 crore on BSE. A total of 10.92 lakh shares of the firm changed hands amounting to a turnover of Rs 5,632 crore.  

The company logged an over four-fold jump in its consolidated net profit to Rs 264.97 crore in Q4, led by a buoyant demand and strong consumer sentiments during the period. The company had posted a net profit of Rs 58.36 crore during the January-March quarter of the previous fiscal.  

Revenue from operations climbed 43.38 per cent to Rs 1,958.10 crore in Q4 against Rs 1,365.66 crore in the corresponding period of the previous fiscal.   

Raymond posted the "highest-ever revenue and profitability during the quarter" the company said. Total expenses climbed 33.36 per cent to Rs 1,790.12 crore in Q4 against Rs 1,342.31 crore in the year-ago quarter.