Nov 4, 2021
Bombay Dyeing posts Q2 net loss of Rs 93 crore
Nov 4, 2021
Textiles major Bombay Dyeing posted a net loss of Rs 93 crore ($12.6 million), as against a net loss of Rs 91 crore it reported in the year-ago period.
The company’s revenue for the quarter rose 128 percent to Rs 496 crore, as against Rs 217 crore it reported in the corresponding period of the previous fiscal year.
For the first half of the fiscal year, Bombay Dyeing’s total income stood at Rs 905 crore while its net loss during the period was Rs 201 crore.
The company attributed the losses during the period to poor sales from its polyester and retail segment due to the Covid-19 disruptions. However, with restrictions being lifted across India coupled with strong festive season sales, it expects recovery over the next two quarters.
Bombay Dyeing is one of the leading textile manufacturers in the country and owns the menswear brand Cezari. It currently has 27 company-owned stores, 3,000 multi-brand stores, and over 400 franchise stores across India.
Copyright © 2024 FashionNetwork.com All rights reserved.