Raymond July-September Net Profit Plunges 81% on One-Time Loss; Revenue Up 11%

Raymond Ltd. reported a sharp fall in its September quarter consolidated net profit due to a one-time loss, even as revenue saw a modest rise.

The company’s net profit for the July–September quarter fell 81% on year to ₹113.8 million, while revenue from operations rose 11% to ₹5.28 billion. Sequentially, net profit slumped nearly 99.8%, though revenue inched up 0.7%.

Total expenditure, including finance cost, increased to ₹5.44 billion in the September quarter from ₹4.88 billion a year earlier. Finance cost rose to ₹215 million from ₹163.3 million.

Raymond booked a one-time loss of ₹1.67 billion during the quarter. The company also reported a tax write-back of ₹1.62 billion, compared with a tax outgo of ₹91.8 million a year ago. Other income fell slightly to ₹360.2 million from ₹382.4 million in the same period last year.