by NR INDRAN

Mumbai : Raymond Limited today announced its unaudited financial results for the quarter ended The Textile segment sales for Q1FY12 registered an increase of 44% to Rs 344 crore on the back of higher volumes and improved realizations consequent to strong demand in the domestic market. In terms of Earnings before Interest and Tax (EBIT), the Textile segment witnessed a 6-fold increase to Rs 30 crore as compared to Rs 5 crore in the corresponding previous year.

The Branded Apparel business also witnessed a 26% jump in sales to Rs 188 crore and EBITDA of Rs 28 crore for the quarter, EBITDA margins rose to 15% as against 10% in the corresponding previous quarter.

Raymond continues to operate one of the largest specialty retail networks in India in the textile and apparel space with 750 retail stores. This includes 40 stores in Middle East and SAARC. The company has over 1.5 million square feet of retail space. Like-to-like store sales growth for the quarter has been at 4%.

Raymond continues to operate one of the largest specialty retail networks in India in the textile and apparel space with 750 retail stores.

Announcing the results, Mr. ‘Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, ‘we’ve started the 2011~12financial year on a very positive note, especially in our core businesses of textiles and branded apparel. This trend is in continuation of our last financial year’s turnaround and growth in performance,

Though, there could be some bumps in the economy in the short term, the long term domestic consumption story is intact and we will continue our pioneering strategy of extending retail presence to smaller towns and cities in India”

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