Raymond Ltd Q3 Net Profit Falls 61%, Revenue Rises 40.6%

Raymond Ltd reported a 61% drop in net profit to ₹72.3 crore for the third quarter ended December 31, 2024, compared to ₹185.4 crore in the same period last year. Despite the decline in profit, the company's revenue surged by 40.6% to ₹953.9 crore, driven by strong performance in its real estate and engineering sectors. The EBITDA for the quarter increased by 75.3%, reaching ₹138 crore, with an improved margin of 14.5%. The real estate segment alone generated ₹488 crore in revenue, reflecting an 11% growth, while the engineering business reported ₹433 crore in revenue despite facing challenges from weak export demand. Chairman Gautam Hari Singhania expressed optimism regarding future growth prospects, particularly in the aerospace sector and the continued demand for high-street retail. Raymond maintains a net cash surplus of ₹696 crore, reinforcing its financial stability.