Raymond shares decline over 3 pc after Q4 earnings

Shares of Raymond Ltd on Tuesday declined over 3 per cent after the company reported a consolidated net loss of Rs 69.10 crore for the fourth quarter ended March 2020 The stock closed 3.40 per cent lower at Rs 277.40 on the BSE.

Shares of Raymond Ltd on Tuesday declined over 3 per cent after the company reported a consolidated net loss of Rs 69.10 crore for the fourth quarter ended March 2020

The stock closed 3.40 per cent lower at Rs 277.40 on the BSE. During the day, it dipped 4.23 per cent to Rs 275. On the NSE, it declined 3.31 per cent to settle at Rs 277.50. Raymond Ltd on Monday reported a consolidated net loss of Rs 69.10 crore for the fourth quarter ended March 2020, impacted by the coronavirus-induced lockdown. The company had posted a net profit of Rs 67.70 crore during January-March quarter of the previous fiscal, Raymond said in a regulatory filing. Revenue from operations fell 29.30 per cent to Rs 1,278.65 crore during the quarter under review as against Rs 1,808.71 crore in the corresponding period of the previous fiscal.