Raymond shares fell over 4% on Wednesday after the company's consolidated net profit crashed 88.9% to Rs 21.69 crore for the third quarter ended December 2020 against Rs 196.83 crore during the October-December period of the previous fiscal.
During the quarter under review, revenue from operations declined 34.1% to Rs 1,243.44 crore against Rs 1,885.43 crore in the corresponding period of the previous fiscal, Raymond said in a regulatory filing.
Raymond stock price opened lower at Rs 335.70 and later touched an intraday low of Rs 327.30, falling 4.09% on BSE. The stock also hit a day's high at Rs 338, against the last close of Rs 341.25. The stock has fallen 3.14% in the 2 days of consecutive fall.
Raymond share price trades higher than 5, 50, 100 and 200 days but lower than 20-day moving averages.
The share has fallen 4% in a month. Year-to-date, the stock is down 1%. It has declined by 1.6% in one week and 47% in one year.
Market capitalisation of Raymond stood at Rs 2,221.57 crore. The stock has touched a 52-week high of Rs 651.25 and a 52-week low of Rs 209.50.
Raymond's total expenses were at Rs 1,274.38 crore in the third quarter of FY2020-21, down 30.5% as compared to Rs 1,844.69 crore in the year-ago quarter.