Shares of Raymond Ltd surged 4% on Tuesday, 5 November, after the company announced its quarterly earnings for the July-September quarter. 

The company’s consolidated net profit for the quarter doubled to Rs 59 crore compared to Rs 27.8 crore reported in the same quarter of the previous fiscal year. 

The revenue from operations of the company stood at Rs 1,044.7 crore, marking a stellar increase from Rs 470 crore recorded in the same quarter last year. 

On the operating front, the earnings before interest, tax, depreciation and amortisation (EBITDA) more than doubled to Rs 116 crore during Q2FY25 from Rs 55.8 crore in Q2FY24. However, the EBITDA margins during the quarter contracted by 80 basis points to 11.1% in Q2FY25 from 11.9% in Q2FY24. 

Segment-wise growth: 

• Engineering Business: The engineering business reported sales of Rs 443 crore, which was more than double the growth from Rs 201 crore. 
• Real Estate Business: The real estate business attained a revenue of Rs 571 crore, which is a 135% YoY increase.

Gautam Hari Singhania, chairman and managing director of Raymond Limited, said, “We witnessed good momentum both in Real Estate and Engineering businesses. With the launch of Park Avenue- High Street Reimagined, the first of its kind retail space in Thane, Raymond Realty has taken yet another pioneering step to create the aspirational ecosystem for its current and upcoming residential projects.” 

Gautam added, “The project execution remains our USP as our endeavour is to continue to deliver before RERA timelines. The seamless integration of Maini operations with JK Engineering has taken an affirmative shape and has started positive results with growth in the overall engineering business.”

At 11:21 am, the shares of Raymond were trading 0.16% higher at rs 1,690 on NSE. 

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