Last updated : May 10, 2023 1:33 pm
The company says it recorded its highest ever Net Profit for FY’23 at 529 cr, and that its store network added 58 stores on net basis during the year leading to 1,409 stores (TRS and EBOs) as of 31st March 2023.
Raymond Limited has announced its audited financial results for the year ended 31st March 2023.
The company says that in the year FY’23, it delivered the highest ever revenue and EBITDA of ₹ 8,337 cr and ₹ 1,322 cr respectively. Raymond clocked a healthy double-digit growth of 31% during the year led by a strong momentum and a robust performance. With Q4FY23, Raymond has demonstrated a strong revenue and profit performance for six consecutive quarters.
The company informs that during the year, its Branded Textile and Branded Apparel segment recorded high revenue growth along with an increased average transaction value (ATV) of 25% across retail network in the country. Its retail store network added 58 stores on net basis during the year leading to 1,409 stores (TRS and EBOs) as on 31st March, 2023.
Commenting on the Company’s performance, Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “FY23 has been a year of exponential growth, as we doubled our net profit compared to previous year with strong growth in revenues delivered across all businesses. As we have charted out a clear roadmap for sustained growth, the recent corporate action announcements will fuel the company’s future with a clear focus on B2C lifestyle business and real estate business. In our continued commitment to create shareholder value, I am delighted to state that these two new entities will be zero net debt and are poised to scale new heights.”