Raymond Q2 Profit Drops 63% to Rs 59 Cr

New Delhi, Nov 4 (PTI) Raymond Ltd, which is into real estate and engineering business, on Monday reported a 63 per cent decline in consolidated net profit to Rs 59.01 crore in the second quarter of this fiscal.

Its net profit stood at Rs 161.16 crore in the year-ago period.

Total income rose to Rs 1,100.70 crore during July-September period of this fiscal from Rs 512.35 crore in the corresponding period of the previous year, according to a regulatory filing.

Gautam Hari Singhania, Chairman & Managing Director, Raymond Ltd, said, "We witnessed good momentum both in real estate and engineering businesses."

"With the launch of Park Avenue- High Street Reimagined, the first of its kind retail space in Thane, Raymond Realty has taken yet another pioneering step to create the aspirational ecosystem for its current and upcoming residential projects. The project execution remains our USP as our endeavor is to continue to deliver before RERA timelines," he added.