Bombay Dyeing reports Q2 net loss of Rs 91 crore
Bombay Dyeing & Manufacturing Company posted a consolidated net loss of Rs 91 crore ($12.3 million) for the second quarter ended September 30, as against a net profit of Rs 90 crore it had reported in the corresponding period last year.
The company’s net sales for quarter under review was down 61 percent to Rs 217 crore, as against Rs 555 crore it reported in the same period last year.
Bombay Dyeing’s revenue from polyester segment for the quarter was Rs 176 crore while textile segment revenue stood at Rs 6 crore.
The company attributed the loss and decline in profit to the Covid-19 pandemic and resultant shutdowns during the July-September period.
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.
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