Bombay Dyeing reports Q1 net loss of Rs 129 crore

By

Maverick Martins

Published
Jul 21, 2020

Textiles major Bombay Dyeing reported a consolidated net loss Rs 129 crore ($17.3 million) for the first quarter ended June 30, as compared to a consolidated net profit of Rs 28 crore it posted in the corresponding quarter last year.
 

The company’s consolidated net sales for the quarter declined 86 percent to Rs 91 crore, as against Rs 649 crore it reported in the year-ago period.
 
Bombay Dyeing’s EBITDA for the quarter under review declined by 115 percent to Rs 22 crore, as compared to Rs 143 crore it posted last year.

“Covid-19 has impacted business operations of the company, its manufacturing, sales, as also revenue of real estate operations, cashflows, and more. The plant of PSF division has started its manufacturing operations from the first week of June 2020 only,” Bombay Dyeing said in a statement.
 
“The full extent to which the pandemic will impact future financial results of the Company cannot be reasonably ascertained and will depend on how Covid-19 situation evolves over a period of time,” it added.
 
Bombay Dyeing is one of the leading textile manufacturers in the country and also owns menswear brand Cezari. It currently has 27 company-owned stores, 3,000 multi-brand stores, and over 400 franchise stores across India.