Bombay Dyeing Q4 net profit plummets 96 percent to Rs 49 crore
Textiles major Bombay Dyeing & Manufacturing Co Ltd consolidated net profit plummeted 96 percent to Rs 49 crore ($6.5 million) for the quarter ended March 2020, as against a net profit of Rs 1,253 it posted in the corresponding period last year.
The company’s revenue from operations dropped 89 percent to Rs 313 crore during the quarter under review, as against Rs 2,786 crore in the corresponding quarter of last fiscal.
For fiscal year 2019-20, the company's net profit declined 73 percent to Rs 329 crore from Rs 1,230 crore in previous year, while its revenue was down 57 percent to Rs 1,895 crore as against Rs 4,430 crore in 2018-19.
Bombay Dyeing's polyester and textiles retail segment contributed Rs 234 crore and Rs 35 crore respectively to the revenue.
The company also owns menswear brand Cezari. It currently has 27 company-owned stores, 3,000 multi-brand stores and over 400 franchise stores across India.
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