Raymond cuts Net Loss 58 Percent in Q1 of 2015-16

Mumbai, July 31: Textile major Raymond Ltd on Friday reported a consolidated net loss of Rs. 13.7 crore for first quarter of fiscal 2015-16, reducing its loss 58 percent from Rs.32.9 crore in same period of 2014-15.

In a regulatory filing to the Bombay Stock Exchange, the city-based branded fabric and fashion retailer said consolidated total income, however, remained flat (2.2 percent) at Rs.1,145 crore in quarter (Q1) under review as against Rs.1,120 crore year ago.

On standalone basis, net loss declined a whopping 76 percent to Rs.8.2 crore from Rs.33.7 crore year ago though income was up 5.5 percent to Rs.572 crore from Rs.542 crore year ago. (IANS)