Bombay Dyeing Q1 net loss widens to Rs 94 crore

Bombay Dyeing & Manufacturing Co Ltd net loss widened to Rs 94 crore for the quarter ended June 30 as against a net loss of Rs 33 crore in the same period a year ago.

Bombay Dyeing Q1 net loss widens to Rs 94 crore - Bombay Dyeing

The revenue of the company also plummeted to Rs 410 crore as compared to Rs 638 crore it had reported in the year-ago quarter, Bombay Dyeing said in a BSE filing.
The company said the results are not comparable with the figures for the previous year's period due to change in accounting method.
Bombay Dyeing, the textile arm of the Wadia group is looking to revive its fortunes and narrow its losses with the help of retail and product expansion.
The company will be expanding across India with 100 franchise stores aiming a revenue of Rs 500 crore (approx $73 million) by 2020.
Bombay Dyeing had earlier announced that it will launch a menswear brand called Cezari this month and new stores will be housing the brand along with the company’s home textile products.
Bombay Dyeing currently has 27 company-owned stores, 3000 multi-brand stores and over 400 franchise stores across India besides all the major e-commerce platforms.

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