NEW DELHI: Shares of Raymond BSE 5.13 % surged over 9 per cent in Wednesday’s trade on stellar March quarter numbers. The company reported doubling of its profit to rupees 56 crore on account revenue growth and profitability from the lifestyle business.
The company had reported net profit of Rupees 21.47 crore in the same period a year ago. Reacting to the earnings, the scrip gained 9.63% to hit a high of Rs 437 on the BSE.
Raymond’s total consolidated net sales during the quarter under review increased by 7.93% to Rs 1,511.35 crore against Rs 1,400.29 crore reported for the same period of previous financial year, Raymond said in a filing to BSE.