On May 7, a day after the company announced its March quarter performance, Raymond stock jumped over 5% intraday. For the fourth quarter ended March 2021, the fabric and apparel retailer posted a consolidated net profit of Rs 58.36 crore on May 6.
Raymond said in a regulatory filing that the company had a net loss of Rs 69.10 crore in the previous fiscal's January-March quarter. However, total income increased by 9.03 percent to Rs 1,407.45 crore from Rs 1,290.87 crore in the previous fiscal's corresponding time.
Textile revenue increased by 24.09 percent to Rs 722.10 crore, up from Rs 581.90 crore previously. The shirting segment's revenue increased 12.2 percent to Rs 133.17 crore from Rs 118.69 crore. However, revenue from apparel fell 39.5 percent to Rs 174.96 crore from Rs 289.27 crore. At 09:55 a.m., the stock was trading at Rs 347.35, up Rs 19.20, or 5.85 percent. It has traded between a high of Rs 351.30 and a low of Rs 336 throughout the day.
The stock's volume increased by more than 3.25 times, to 79,344 shares, compared to its five-day average of 22,687 shares, a 249.74 percent rise. Revenue from the real estate and construction of property segment increased by 42.53 percent to Rs 54.12 crore from Rs 37.97 crore. Raymond posted a net loss of Rs 303.65 crore for the fiscal year 2020-21. The previous year, it made a net profit of Rs 201.76 crore.
The total revenue for the fiscal fell 44.5 percent to Rs 3,647.83 crore. In 2019-20, it was Rs 6,578.30 crore. Consumer sentiment has been impacted by the revival of the COVID-19 pandemic, according to Raymond, and local lockdowns have had an effect on the company's retail store operations.