Raymond Ltd reported a notable 18 percent increase in its consolidated profit after tax, reaching INR 229 crore for the fourth quarter ended March 2024. This marks a significant rise from the INR 194 crore consolidated profit after tax recorded in the corresponding quarter of the previous fiscal year.
In the quarter under review, consolidated net revenue amounted to INR 2,688 crore, marking a 23 percent increase from INR 2,192 crore recorded in the same period last year.
For the fiscal year ended March 2024, the consolidated profit after tax stood at INR 1,638 crore, a substantial increase from INR 529 crore reported in the preceding fiscal year.
Continue Exploring: Raymond re-appoints Gautam Hari Singhania as Managing Director
The company stated that consolidated net revenue for FY24 reached INR 9,286 crore, surpassing the INR 8,337 crore recorded in FY23.
Raymond Ltd’s Chairman and Managing Director, Gautam Hari Singhania, remarked that business across all segments showcased steady growth throughout the year.
He added, “Despite challenges and subdued consumer demand, our lifestyle business displayed robust resilience and achieved growth. In real estate, we’ve sustained a vigorous pace of bookings, especially with the introduction of our inaugural JDA project in Bandra, Mumbai.”
He added that the company’s three sectors—lifestyle, real estate, and engineering—are anticipated to serve as future growth catalysts.
In a regulatory filing, Raymond announced that its board has approved the re-appointment of Singhania as Managing Director for a term of five years starting from July 1, 2024.
Continue Exploring: Raymond Group’s Q3 profits surge, nearly doubling to INR 185 Crore amidst strong segment performances
