Raymond Q2 Results: Net profit more than doubles to ₹32 crore as revenue grows 24%

Textiles and apparel company Raymond Ltd

on Tuesday (October 27) reported a sharp rise in net profit to ₹32 crore for the second quarter, compared with ₹13.9 crore in the year-ago period.

Revenue grew 24.1% year-on-year (YoY) to ₹655 crore from ₹527.7 crore in the corresponding quarter last year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 74.4% YoY to ₹75 crore, compared with ₹43 crore a year ago. EBITDA margin expanded by 336 basis points to 11.5% from 8.14% in the year-ago quarter.

Shares of Raymond Ltd ended at ₹1,079.10, up by ₹26.95, or 2.56%, on the BSE.