New Delhi: Shares of Raymond Ltd on Thursday gained over 4 per cent after the company reported a multifold jump in its net profit at Rs 101.07 crore for the third quarter ended December 2021.
The stock jumped 4.37 per cent to its 52-week high of Rs 818.25 on the BSE.
At the NSE, it gained 4.44 per cent to a 52-week high of Rs 819.
Raymond Ltd on Tuesday reported a multifold jump in its net profit at Rs 101.07 crore for the third quarter ended December 2021, helped by improved performance across the segment.
The company had posted a net profit of Rs 22.18 crore during the corresponding quarter of the previous financial year, Raymond said in a regulatory filing.
Its revenue from operations during October-December 2021 jumped 48.25 per cent to Rs 1,843.39 crore, compared with Rs 1,243.44 crore in the year-ago period.
According to the company, it has reported the “highest profitable quarter in the past 10 years” and its revenue is now “100 per cent of pre-COVID-19 levels”.
“In domestic markets, improved consumer sentiments and strong festive & wedding season demand across our B2C (business-to-consumer) businesses and strong momentum of export orders maintained in garments and engineering businesses helped in achieving growth in revenues,” said Raymond in a post-earnings statement.
Equity markets were closed on Wednesday on account of Republic Day.