Raymond tumbles on reporting 87% fall in Q3 net profit

22 Jan 2013

Raymond is currently trading at Rs. 418.00, down by 11.50 points or 2.68% from its previous closing of Rs. 429.50 on the BSE.

The scrip opened at Rs. 423.00 and has touched a high and low of Rs. 425.10 and Rs. 414.00 respectively. So far 81350 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 488.90 on 11-Dec-2012 and a 52 week low of Rs. 324.00 on 24-Jan-2012.

Last one week high and low of the scrip stood at Rs. 445.40 and Rs. 418.90 respectively. The current market cap of the company is Rs. 2585.98 crore.

The promoters holding in the company stood at 40.05% while Institutions and Non-Institutions held 34.46% and 24.12% respectively.

Raymond has reported results for third quarter ended December 31, 2012.

The company has registered a fall of 86.50% in its net profit at Rs 4.22 crore in Q3FY13 as compared to Rs 31.26 crore in the corresponding quarter previous year. However, the total income from operation of the company has increased by 7.80% to Rs 557.03 crore for the quarter under review as compared to Rs 516.74 crore in the same quarter last year.

Raymond is largest manufacturer of steel files in the world accounting 30% of market share. The company’s textile plants are located in Thane, Vapi and Chhindwara. These plants have received various certifications such as ISO 9001 for quality management systems and ISO 14001 Environment Control Systems.

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