Raymond Ltd on Wednesday reported a decline of 4.42 percent in its December quarter net profit at Rs 96.60 crore, mainly on account of a one-time tax hit. The company had posted a net profit of Rs 101.07 crore during the October-December period of the previous fiscal, Raymond said in a regulatory filing. Its revenue from operations rose 17.61 percent to Rs 2,168.16 crore during the quarter under
PTI, New Delhi, FEB 01 2023, 19:58 IST UPDATED: FEB 01 2023, 19:58 IST Representative Image. Credit: iStock Photo Raymond Ltd on Wednesday reported a decline of 4.42 per cent in its December quarter net profit at Rs 96.60 crore,
Raymond has exercised the option of a lower corporate tax rate which has resulted in a one-time net impact of Rs 73.5 crore in the profit and loss account, the company said in its earning statement. Its EBITDA (pre-tax profit) was at Rs 351 crore
this was the fifth straight quarter where Raymond registered strong performance and overall generated free cash flows to further deleverage the balance sheet to below Rs 1,000 crore of net debt levels, he added.