Raymond Q4FY23 Results: Net Profit Drops 26%; declares dividend

Company’s consolidated revenue from operations for the quarter ended March grew by 9.8% over the year 2,150.18 crore to 1,958.10 crore in the same period last year.

Besides this, the company said in an exchange filing that the board has recommended payment of a dividend of 30% on the equity share capital. 3 per equity share of face value 10.

“The dividend, if approved by shareholders, will be paid on or after Tuesday, July 11, 2023,” the company said.

Company achieves highest ever sales and EBITDA in historical year FY23 8,337 crore and 1,322 crore, respectively, as per the company’s exchange report. year round, raymond Posted healthy double-digit growth of 31%, driven by strong momentum and solid performance.

“FY23 has been a year of exponential growth, as we doubled our net profit over the previous year, with strong revenue growth across all businesses. As we lay out a clear roadmap for continued growth, recent corporate action announcements will drive the future of the company with a clear focus on the B2C lifestyle business. real estate Business In our continued commitment to create shareholder value, I am happy to share that these two new entities will be zero net debt and are poised to scale new heights,” said Gautam Hari Singhania, Chairman and Managing Director of the company in a press release. he said.

Following the company’s recent corporate measures to demerge the lifestyle company, there will now exist two independent, net debt-free listed entities with pure play B2C lifestyle and real estate businesses, each with future backing There shall be a large cash surplus at the group level to Development.