No points for guessing that the adverse effects of the coronavirus pandemic are seen everywhere across the country! Bombay Dyeing too feels the brunt!
One of the largest producers of textiles in India, Bombay Dyeing & Manufacturing Company Limited reported a ‘shocking’ 96 per cent drop in consolidated net profit at nearly Rs. 49 crore (US $ 6.5 million) for the fourth quarter ended March 2020.
The company posted a net profit of Rs. 1,253 in the corresponding period last year.
Its revenue from operations plummeted approximately 89 per cent to Rs. 313 crore during the quarter under review, whereas it was an impressive Rs. 2,786 crore in the corresponding quarter of the last fiscal.
Bombay Dyeing’s net profit for fiscal year 2019-20 dropped 73 per cent to Rs. 329 crore from Rs. 1,230 crore in 2018-19. Also, the company’s latest revenue declined 57 per cent to Rs. 1,895 crore from Rs. 4,430 crore in the last fiscal.
Coming to the revenues from Bombay Dyeing’s polyester and textile retail divisions, while the former contributed Rs. 234 crore as compared with Rs. 368 crore last year, the latter was at Rs. 35 crore as against Rs. 65 crore in 2018-19.
So far as the company’s total expenses are concerned, it witnessed a nearly 69 per cent fall to Rs. 490 crore as against Rs. 1,547 crore in last year’s quarter.
Bharat Tex Special Report 2026 
