Raymond Lifestyle Q3 profit down 60.5%
Raymond Lifestyle Q3 profit down 60.5% by 64.15 cr.
Raymond Lifestyle Q3 profit down 60.5%. Raymond Lifestyle Q3 FY25 Results Net Profit Falls by 60.5% Amid Market Challenges. Raymond Lifestyle Ltd reported a 60.5% decline in consolidated net profit, which stood at Rs 64.17 crore for the third quarter ending December 31, 2024. The company attributed the drop to weak market conditions and increased expenses. In comparison, net profit was Rs 162.43 crore during the same period last year.
Despite the challenges, revenue from operations saw a marginal rise, reaching Rs 1,754.21 crore, up from Rs 1,726.26 crore in Q3 FY24. However, total expenses surged to Rs 1,708.37 crore, significantly higher than Rs 1,546.22 crore in the corresponding quarter last year. The cost of materials consumed also increased to Rs 366.02 crore from Rs 339.47 crore.
Raymond Lifestyle’s branded textile segment revenue declined by 6%, recording Rs 856 crore, compared to Rs 909 crore in the previous year, primarily due to lower consumer demand. However, the branded apparel segment performed better, with revenue rising to Rs 458 crore, up from Rs 437 crore in the previous year.
The garmenting segment witnessed growth, with revenue climbing to Rs 309 crore from Rs 261 crore. In contrast, the high-value cotton shirting segment reported a revenue decline to Rs 201 crore, compared to Rs 214 crore in Q3 FY24, impacted by subdued demand.
Raymond Lifestyle expanded its retail presence by opening 61 new stores during the quarter. Managing Director Sunil Kataria acknowledged the tough market conditions but highlighted the company’s focus on long-term sustainable growth through store expansion, product innovation, and marketing efforts.
