Raymond Q4 net up 98% to Rs 21.17 cr

New Delhi, Apr 29 (UNI) Raymond Ltd today said its net profit for the fourth quarter ended March 2008 increased 98 per cent to Rs 21.17 crore compared to Rs 10.68 crore in the corresponding quarter last year.

Its total income is higher by 25 per cent at Rs 445.01 crore as compared to Rs 357.09 crore in the previous year, said a statement.

During the quarter ended March 2008, the net sales of its Textile Division registered a growth of 27 per cent to Rs 379.04 crore as against Rs 298.16 crore in the previous year.

The Files&Tools Division reported an overall growth of 18 per cent in net sales during Q4 2008, over the previous year from Rs 45.11 crore to Rs 53.17 crore.

The branded apparel subsidiaries of the company continued their strong sales growth during the quarter and have grown by 39 per cent over the previous year.

For the year ended March 2008, total income is higher by four per cent at Rs 1,408.75 crore as compared to Rs 1354.21 crore in the previous year.

On a consolidated basis, the consolidated total income was Rs 2,487.21 crore for FY07-08, an increase of 17 per cent over the previous year's Rs 2,118.72 crore.

The consolidated net profit for FY07-08 was Rs 21.06 crore as against Rs 139.99 crore during the previous year.

The consolidated numbers have been significantly impacted by the operations of the company's joint venture Raymond UCO Denim Pvt Ltd, which incurred losses due to the global down cycle in the denim market.

The Board of Directors has recommended a dividend of 25 per cent for the year.

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