Raymond Q4 Results 2024: Raymond earned Rs 229 crore, know who was made the managing director of the company
Raymond Q4 Results 2024: Garments and apparel company Raymond released the results of Q4FY24 i.e. the fourth quarter of the financial year 2024. The company’s consolidated net profit rose 18% year-on-year (YoY) to ₹ 229.2 crore in the January-March quarter.
The company’s profit in the same quarter last year was ₹194 crore. At the same time, the company’s revenue increased by 21% to ₹ 2,609 crore in the March quarter, whereas it was ₹ 2,150 crore in the same period a year ago.
Gautam Singhania again becomes managing director
Along with releasing the results, the company said that the board has approved the reappointment of Gautam Singhania to the post of Managing Director for the next 5 years. Singhania’s new tenure will start from July 1, 2024. The company said, ‘Under the leadership of Gautam Singhania, the group has made a lot of progress. His goal is to make the Raymond brand one of the most respected Indian brands in the world and give it global recognition.
Approval to make engineering business also a unit
The boards of Raymond’s various businesses have approved the development of the engineering business as a separate stand-alone entity. Along with this, Raymond told in the stock exchange filing that the company will also make the aerospace and defense business a separate entity. This demerger approval is to enable the recently acquired Maini Precision Products Limited (MMPL) to enter certain sectors.
The company declared a dividend of Rs 10
Along with the results, the board of directors of Raymond has also approved to give a dividend of Rs 10 per share to its investors. Companies give some part of the profits to their shareholders, this is called dividend.
Raymond shares gave a return of 40.50% in one year
After the results today, shares of Adani Green Raymond fell 3.49% and closed at Rs 2,214. With this, the market cap of the company has also increased to Rs 14.84 thousand crore.
The company’s shares have increased by 15.27% in the last one month. Its shares have increased by 17.31% in the last six months. In the last one year, Raymond gave 40.50% returns to investors.
