Raymond share price rises more than 4% after Q2 net profit from continuing operations doubles

Raymond share price: Shares of Raymond Ltd were trading in the positive territory on Tuesday after the company posted its earnings for the July-September quarter of the financial year 2024-25.

The stock rose as much as 4.48% to ₹1,763 per share on the NSE in the early trade. At 9:29 am, the scrip was trading at ₹1,738.3 apiece, up 3%.

On BSE, the stock gained 2.9% to ₹1,736.4.

Raymond net profit from continuing operations rises 112% in Q2

Total income rose 114.8% to ₹1,100.70 crore during the latest September quarter from Rs 512.35 crore in the same period of the previous year, according to an exchange filing.

Raymond Chairman and Managinig Director Gautam Hari Singhania 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.

In a regulatory filing, the company informed that Raymond Reality posted a strong second quarter with a revenue of ₹571 crore, up from ₹243 crore in Q2 FY24, reflecting a growth of 135%.

"During the quarter, Raymond Realty launched Park Avenue – High Street Reimagined Retail with RERA carpet area of 0.08 Mn sq ft in the month of September 2024. The first of its kind high street retail in Thane received an overwhelming response. The project will host premium aspirational brands," the company said.

Raymond's engineering business reported sales of ₹443 crore in the quarter under review, doubling revenue compared to ₹201 crore in the corresponding period of the previous fiscal year.