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Quarterly results of textile company Bombay Dyeing, Future Lifestyle Fashion, announced

Financial results
Image Courtesy: biospectrumasia.com

Bombay Dyeing, the leading home textiles manufacturing company operating over four million square feet of retail space, has announced financial results for first quarter.

During the reporting period, Bombay Dyeing’s net loss increased from Rs. 32.71 crore in the same period last year to Rs. 93.74 crore this year. Company’s total income in the reporting quarter declined Rs. 410.31 crore from Rs. 638.33 crore in the same period a year-ago.

However, the company has made it clear that these results should not be compared with previous year’s same quarter due to change in accounting method.

On the other hand, fashion retailer Future Lifestyle Fashion Ltd. witnessed 20.3 per cent increase in its standalone net profit to. Rs 28.31 crore in the reporting quarter as compared to Rs. 23.52 crore in the same quarter last year.

Fashion retailer’s total income increased by 23.02 per cent to Rs. 1,276.79 crore from Rs. 1,037.86 crore in the same period a year ago. The company also reported 23.16 per cent increase in its total expenses to Rs. 1,233.48 crore, as compared to Rs. 1,001.47 crore in the same period last fiscal.

At present, the company runs around 360 retail stores across the country.