Raymond Q4 Results: Net Profit Jumps 18% To Rs 229 Crore, 100% Dividend Announced

Raymond on Friday reported an 18 per cent jump in its consolidated net profit to Rs 229 crore for the fourth quarter ended March 2024. Its revenue during January-March 2024 rose 23 per cent to Rs 2,688 crore, compared with Rs 2,192 crore in the year-ago period.

Its net profit had stood at Rs 194 crore in the corresponding quarter last year, according to a regulatory filing.

Raymond’s board has also announced a dividend of 100 per cent, or Rs 10 per equity share, for the financial year 2023-24.

“The board of directors have recommended payment of dividend of 100 per cent on the Equity share capital i.e. Rs 10 per equity share of the face value of Rs 10 (Rupees Ten) each for the financial year ended March 31, 2024, subject to approval of the shareholders at the ensuing 99th Annual General Meeting. The dividend, if approved by the shareholders will be paid on or after June 26, 2024,” Raymond said in the filing.

It said in Q4FY24, Raymond delivered a record-breaking performance both in terms of revenue and profitability, making it the 11th consecutive quarter of sustained growth.

During this quarter, revenue increased by 23 per cent YoY, reaching Rs 2,688 crore, with highest-ever EBITDA of Rs 516 crore and EBITDA margin of 19.2 per cent.