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Raymond share price slips 4% after coronavirus lockdown hits Q4 earnings

Share price of Raymond opened 4.23% lower at Rs 275 today against previous close of Rs 287.15 on BSE

Raymond share price slips 4% after coronavirus lockdown hits Q4 earnings

Market cap of the firm fell to Rs 1,846 crore. Total 1.46 lakh shares changed amounting to turnover of Rs 4.08 crore on BSE

Raymond Ltd share price fell over 4% today after the firm reported a net loss of Rs 69 crore in Q4 against profit of Rs 68 crore in Q4 of preceding fiscal. Share price of Raymond opened 4.23% lower at Rs 275 today against previous close of Rs 287.15 on BSE.

The stock traded in the red throughout the session and ended 3.40% lower at Rs 277. Market cap of the firm fell to Rs 1,846 crore.  Total 1.46 lakh shares changed amounting to turnover of Rs 4.08 crore on BSE.

The small cap stock has lost 7.75% in last 6 days. The share stands higher than 50 day moving averages but lower than 5 day, 20 day, 100 day and 200 day moving averages.

The stock hit 52 week high of Rs 838 on November 11, 2019 and 52 week low of Rs 209 on March 30, 2020.

Share Market Highlights: Sensex ends 45 points lower, Nifty at 10,302; PowerGrid, BPCL, Sun Pharma top losers

The stock has lost 62% in one year and fallen 58.56% since the beginning of this year. However, it has risen 23% in one month. Revenue from operations declined 29.30 per cent to Rs 1,278.65 crore in Q4 against Rs 1,808.71 crore in the corresponding period of the previous fiscal.

The firm's quarterly performance came under pressure due to coronavirus-induced lockdown.

"The Government of India had declared a lockdown on March 24, 2020 which had impacted the normal business operations of the group, its associates and joint ventures," the company said.

Raymond's total expenses fell 17.21 per cent to Rs 1,442.80 crore in Q4 of 2019-20 against Rs 1,742.79 crore a year ago.

For fiscal year 2019-20, Raymond's net profit rose 15.44 per cent to Rs 201.76 crore compared with Rs 174.77 crore in 2018-19. Revenue from operations declined 1.51 per cent to Rs 6,482.37 crore in 2019-20 against Rs 6,582.28 crore in 2018-19.

Meanwhile, Sensex closed 45 points lower at 34,915 and NSE Nifty fell 10 points to 10,302 in today's trading session.

Share Market Highlights: Sensex ends 45 points lower, Nifty at 10,302; PowerGrid, BPCL, Sun Pharma top losers

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