India Raymond Denim Business Sales Increased By 31%

India Raymond Limited announced the unaudited financial results of the company as at the end of September 30, 2011.

In the quarter ended September 2011, Raymond's consolidated net profit rose by 24% to 810 million rupees, thanks to strong support from cross business.

Consolidated net sales increased by 25% to 9 billion 780 million rupees. Consolidated EBITDA (ex dividend tax and depreciation before amortization) increased by 31% to 1 billion 850 million rupees. The overall level of profit margins expanded. -EBITDA margins increased by nearly 100 basis points.

In the quarter ended September 30, 2011, sales of textile sector (independent) increased by 26% to 4 billion 970 million rupees, due to higher real sales and sales growth.

Earnings before interest and tax (EBIT) were 970 million rupees, an increase of 8% over the same period last year.

Brand clothing business quarterly sales increased 29% to 2 billion 200 million rupees, the quarter EBITDA was 410 million rupees, an increase of 112% over the same period.

All core brand businesses have seen strong growth.

Raymond is still one of India's largest professional textile and apparel retail network, operates 762 retail outlets, and sells more than 1 million 540 thousand square feet of retail space, including 41 stores in the Middle East and South Asian Association for regional cooperation.

Similar store sales increased 6% in the quarter.

In the quarter ended September, sales of India denim business increased by 31%, and actual sales increased by 33% to 1 billion 910 million rupees. In the quarter, EBlTDA was 200 million rupees, an increase of 5% over the same period.