Bombay Dyeing posts Q3 profit of Rs 162 crore

By

Maverick Martins

Published
Feb 11, 2020

Bombay Dyeing & Manufacturing Co Ltd reported a consolidated net profit of Rs 162 crore ($22.8 million) for December quarter 2019, as against a net loss of Rs 195 crore it had posted in the corresponding quarter last year.
 

The company’s total revenue for the quarter was Rs 390 crore, as compared to Rs 425 crore it had reported in the year-ago period.
 
The polyester segment contributed Rs 271 crore to the company’s revenue during the October-December quarter, while revenue from the retail and textile segment stood at Rs 46 crore.

“The company has recognised Deferred Tax Assets (Net) of Rs 301.14 crore arising from unabsorbed depreciation and brought forward business losses, based on the steps taken by the company to achieve its projected profitability. It is probable that the company will have future taxable profits against which the unabsorbed depreciation and brought forward business losses can be utilised," the company said in a BSE filing.
 
Bombay Dyeing’s total expenses during the quarter were at Rs 528 crore, as against Rs 590 crore it reported last year.
 
The company is eyeing revenue of Rs 500 crore by 2020 and betting big on its menswear brand Cezari to drive growth. It currently has 27 company-owned stores, 3,000 multi-brand stores and over 400 franchise stores across India.