Raymond looking smart!

The stock is up smartly today on the back of its good YoY performance for Q3FY14. It opened today with a gain of Rs.11 and is currently at Rs.315.80, up almost 4%, its intra day high too.

The company posted a four-fold rise in its Q3FY14 net profit and the market is celebrating this fact. Its consolidated net profit grew from Rs.13 crore in Q3FY13 to Rs.57 crore in current Q3. This performance was on the back of strong margin expansion. Total income was up at Rs.1208 crore v/s Rs.1053 crore (YoY). EBITDA grew by 35% to Rs 164 crore and EBITDA margins improved by 202 bps (YoY) to 14%. NPM also rose sharply from 1% to 5%. The management in its Press note also seemed to be very optimistic about the coming months  and that too helped push up the stock price.