Raymond Lifestyle Ltd Shows Resilience with Reduced Loss in Q1

Raymond Lifestyle Ltd has demonstrated resilience in the first quarter by narrowing its consolidated net loss to Rs 19.82 crore, supported by strong performance in the branded textile and apparel segments, the company announced on Wednesday.

Compared to a Rs 23.21 crore loss in the same period last year, the company showed notable recovery. Revenues soared to Rs 1,430.43 crore from Rs 1,220.12 crore year-over-year, according to the regulatory filing.

The branded textile segment saw a 27% revenue surge, driven by volume growth and heightened demand during wedding seasons, while apparel revenue increased by 22%. However, garmenting segment revenue faced a decline due to US tariff concerns, said Executive Chairman Gautam Hari Singhania. The company remains cautiously optimistic amid macroeconomic challenges and potential opportunities from the UK-India Free Trade Agreement.

(With inputs from agencies.)