Textile major Raymond has reported 89.26% decline in its consolidated net profit for the quarter ended March 31 at Rs 3.17 crore. The company had posted a net profit of Rs 29.51 crore in the year-ago period.
The company’s consolidated total income, however, increased by 13.52% to Rs 956.52 crore from Rs 842.58 crore in the same period previous fiscal.
For the 2011-12 financial year, Raymond posted nearly three-fold increase in its consolidated net profit to Rs 155.78 crore from Rs 53.68 crore in the previous fiscal. The consolidated total income in FY12 went up 19.74% to Rs 3,657.08 crore from Rs 3,054.06 crore in FY11.
The board of directors recommended a dividend of 25% for the last fiscal.