Mumbai: The country’s leading textile and apparel major Raymond Ltd reported 69.4% drop in net profit to Rs10.67 crore for the fourth quarter ended 31March, as compared to Rs34.81 crore in the same period a year ago.
Total income (net of excise) of the company also decreased to Rs357.09 crore for the January-March quarter this fiscal, 10.77% down over Rs400.22 crore for the quarter ended 31 March, 2006, Raymond informed the BSE.
Raymond also said that its Board of Directors has recommended a dividend of 50% on the equity share capital for the year 2006-2007. The dividend, if sanctioned by the shareholders, would be paid on or after 19 June.
Meanwhile, the results for the year ended 31 March show that the company posted a net profit of Rs202.12 crore for the last 12 months as compared to Rs121 crore recorded previous fiscal.
Total income (net of excise) however decreased to Rs1,354.21 crore for the year ended 31 March, as compared to Rs1,394.21 crore for the year ended 31 March, 2006.