Raymond Q4 net declines 21.65 pc, dividend at 50 pc

Mumbai, May 4 (UNI) Raymond Ltd has posted a net profit of Rs 34.81 crore for the quarter ended March 31 as compared to Rs 44.43 crore for the quarter ended March 31, last year, a decline of 21.65 per cent.

Announcing the results, the company said its total income (net of excise) has increased from Rs 333.31 crore in Q4 FY 04-05 to Rs 400.22 crore for Q4 FY 05-06.

It has posted a net profit of Rs 121.00 crore for the year ended March 31 (FY 05-06) as compared to Rs 83.15 crore for the year ended March 31 (FY 04-05). Total Income has increased from Rs 1,209.04 crore in FY 04-05 to Rs 1,394.21 crore for FY 05-06.

As per the consolidated results, the group has posted a net profit of Rs 136.03 crore for the year ended March 31 (FY 05-06) as compared to Rs 90.60 crore for the year ended March 31 (FY 04-05). Total Income (net of excise) has increased from Rs 1,506.99 crore in FY 04-05 to Rs 1,793.21 crore for FY 05-06.

The Board has recommended a dividend of 50 per cent on the Equity Share Capital for the year 2005-2006.

Announcing the results, company Managing Director Gautam Hari Singhania said, ''The capacity additions in textile and denim business completed in FY06 and the partnerships forged with leading international players will contribute significantly to the company's business in the coming years.'' Further, Mr Singhania added: ''With world-class vertically integrated facilities, upgrading existing capacities, design capabilities, strong product development and branding skills, the company is on its way to becoming a one-stop-shop; from fabric to apparel. Thus the group is well poised to capitalize on the unfolding opportunities in both international and domestic markets.'' UNI SN KU VKG1822