Raymond Lifestyle Q2 FY27 Results: Consolidated Net Profit ₹67.53 Crore on Total Income of ₹2,125 Crore
Earnings
Textiles and apparel
Blacklitt Research3 min read
5snake5, via Wikimedia Commons (CC0). Illustrative image.
Raymond Lifestyle reported consolidated total income of ₹2,125 crore and net profit of ₹68 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹1,684 crore and net profit ₹49 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹2,125 crore, up 13.9% YoY and 36.2% QoQ
Net profit and EPS: ₹68 crore, down 10.2% YoY; basic EPS ₹11.08
Finance costs: ₹74 crore, up 22.9% YoY
Standalone
The company on its own, without its subsidiaries
Total income: ₹1,684 crore, up 12.6% YoY and 45.3% QoQ
Net profit and EPS: ₹49 crore, down 25.4% YoY; basic EPS ₹7.98
Finance costs: ₹65 crore, up 21.8% YoY
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
2,125
1,865
+13.9%
1,560
+36.2%
Revenue from operations
2,075
1,832
+13.2%
1,516
+36.9%
Other income
49
33
+49.7%
45
+10.5%
68
75
-10.2%
-23
n/a
Profit before tax
91
103
-11.7%
-38
n/a
Finance costs
74
60
+22.9%
63
+16.1%
Depreciation
105
91
+14.8%
109
-4.1%
Tax expense
-23
-28
+15.7%
16
n/a
Net profit margin
3.18%
4.03%
-0.85 pp
-1.45%
+4.63 pp
EPS, basic (₹)
11.08
12.34
-10.2%
-3.71
n/a
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Income grew faster than profit. Total income rose 13.9% to ₹2,125 crore, while net profit fell 10.2% to ₹68 crore and profit before tax fell 11.7% to ₹91 crore. Revenue from operations rose 13.2%, slower than other income, which grew 49.7% to ₹49 crore and made up 2.3% of total income.
Finance costs rose 22.9% to ₹74 crore and depreciation rose 14.8% to ₹105 crore, both ahead of the growth in revenue from operations. Tax expense was ₹23.39 crore against ₹27.74 crore a year earlier, an effective rate of 25.7% on profit before tax of ₹90.92 crore, and the statement shows a deferred tax charge of ₹17.06 crore. The year-earlier quarter carried an exceptional loss of ₹4.68 crore for stamp duty, and the current quarter has none.
The press release puts the EBITDA margin at 12.7% against 13.9% a year earlier. It says elevated input costs and channel mix dynamics influenced near-term operating margins, and credits premiumization, casualization and volume growth in Branded Apparel with the Garmenting gain. The statement itself gives no cause for the fall in profit.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,684
1,495
+12.6%
1,159
+45.3%
Revenue from operations
1,630
1,457
+11.8%
1,111
+46.7%
Other income
54
38
+42.6%
48
+13.5%
49
65
-25.4%
-35
n/a
Profit before tax
68
88
-23.3%
-48
n/a
Finance costs
65
53
+21.8%
55
+18.5%
Depreciation
88
75
+17.4%
92
-4.2%
Tax expense
-19
-23
+17.6%
14
n/a
Net profit margin
2.89%
4.36%
-1.47 pp
-3.01%
+5.90 pp
EPS, basic (₹)
7.98
10.69
-25.4%
-5.72
n/a
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone total income rose 12.6% to ₹1,684 crore, but net profit fell 25.4% to ₹49 crore and profit before tax fell 23.3% to ₹68 crore. Other income rose 42.6% to ₹54 crore, 3.2% of total income, and the year-earlier quarter carried a stamp duty exceptional loss of ₹4.68 crore that the current quarter does not.
Finance costs rose 21.8% to ₹65 crore and depreciation rose 17.4% to ₹88 crore. Tax expense of ₹19.10 crore is 28.2% of profit before tax of ₹67.70 crore. Consolidated net profit of ₹68 crore is ₹19 crore above standalone net profit of ₹49 crore, a gap the statement does not break down by subsidiary.
Inference
The filing says the Board approved the results on 28 Oct 2026 and that the auditor's review carried no qualifications. It records a final dividend of ₹1 per share for FY 2025-26, approved at the AGM on 14 Jul 2026, with ₹6.01 crore paid in the half year. The press release says the company is net debt free, with a net cash surplus of ₹69 crore at Sept 2026 against net debt of ₹246 crore a year earlier. The consolidated exceptional items for FY 2025-26 were a loss of ₹128.54 crore, which includes the New Labour Codes impact.
Not stated: the reason for the swing to a consolidated loss in the June 2026 quarter, and whether further Labour Codes costs will follow, as the Group says it continues to monitor the rules.
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RAYMONDLSLRaymond Lifestyle Ltd.
