Raymond Ltd for the quarter ended March, reported a consolidated net profit of ₹194.35 crore, an year-on-year decline of 26% from ₹263.31 crore in Q4FY22. On Tuesday, Raymond share price ended at ₹1,599.55, up by ₹12.85 or 0.81% on BSE.
The company’s consolidated revenue from operations for the quarter ended March, rose 9.8% on year to ₹2,150.18 crore from ₹1,958.10 crore in the same period last year.
Further, the company in an exchange filing said that the board has recommended payment of dividend of 30% on the equity share capital i.e. ₹3 per equity share of the face value of ₹10.
“The dividend, if approved by the shareholders will be paid on or after Tuesday, July 11, 2023,” added the company.
The company achieved its highest-ever sales and EBITDA in the historic year FY23, reaching ₹8,337 crore and ₹1,322 crore, respectively, according to the company’s exchange report. Throughout the year, Raymond recorded a healthy double-digit increase of 31%, driven by strong momentum and a solid performance.
Following the recent corporate measures taken by the Company to demerge the Lifestyle company, two independent, net debt-free listed entities with pure play B2C Lifestyle and real estate businesses will now exist, each with a sizable cash surplus at the Group level to support future growth.
