Raymond Q1 Results: Revenue Surges 98.3%, Profit Up 27%

Raymond Ltd. reported a 26.7% uptick in net profit from continuing operations on a yearly basis for the first quarter of this financial year.

The real estate and engineering businesses company reported a bottom line of Rs 57 crore in the quarter-ended June, as compared with Rs 45 crore in the same quarter last year, according to its stock exchange notification.

The company's revenue surged 98.3% year-on-year to Rs 938 crore. Operating income, or earnings before interest and tax depreciation and amortisation, rose on a yearly basis to Rs 102 crore, while Ebitda margin expanded to 10.9% from 9.7% in the corresponding quarter of the last fiscal.

"Our real estate business continues to expand its portfolio through the Joint Development Agreement route. Additionally, our foray into the Aerospace business, following the acquisition of MPPL, is showing promising signs, with its strong performance in the first quarter," said Gautam Hari Singhania, chairman and managing director.

The scrip closed 1.73% higher at Rs 1,940.7 apiece, as compared with a 0.35% decline in the NSE Nifty 50.