Raymond shares jump 4.5% after Q2 profit doubles, revenue surges 122%

Raymond Ltd’s banal climbed up to 4.51 per cent, reaching an intraday precocious of Rs 1,762.30 connected Tuesday, November 5, 2024, pursuing a beardown fiscal show successful Q2FY25. The apparel and existent property conglomerate reported awesome maturation figures, with nett net from continuing operations much than doubling to Rs 59 crore, compared to Rs 27.8 crore successful Q2FY24.

Revenue saw a important boost arsenic well, soaring 122 per cent to Rs 1,044.7 crore from Rs 470 crore successful the aforesaid play past year. However, Raymond’s EBITDA borderline dipped slightly, down by 80 ground points to 11.1 per cent successful Q2FY25, from 11.9 per cent successful Q2FY24, mostly owed to outgo pressures.

Segment Performance: Real Estate and Engineering

Raymond Realty posted singular growth, with gross expanding 135 per cent year-on-year to Rs 571 crore. This was propelled by caller developments similar Park Avenue – High Street Reimagined, a retail task successful Thane covering 0.08 cardinal quadrate feet that has attracted sizeable interest. Raymond’s existent property part posted an EBITDA of Rs 112 crore, up from Rs 47 crore successful the erstwhile year.

The engineering conception besides doubled its revenue, reaching Rs 443 crore successful Q2FY25, compared to Rs 201 crore successful Q2FY24. This maturation was chiefly driven by robust home request for Flex plates, Ring Gear, and Shaft Bearings. Although exports were impacted by anemic overseas request and geopolitical headwinds, the conception benefited from the palmy integration of Maini operations with JK Engineering.

By 10:00 AM, Raymond shares were trading up implicit 2 per cent astatine Rs 1,720.60, portion the BSE Sensex saw a flimsy dip, trading 0.10 per cent little astatine 78,707.31.