According to a company filing with BSE, Bombay Dyeing & Manufacturing Company, Indian home textiles brand under Wadia Group, has reappointed Jehangir Wadia as its Managing Director, who is also the MD of GoAir, an airline group managed by the Wadia Group, for the next five years.
The Board of Directors, in a meeting held on March 31, 2016, approved Wadia’s reappointment, Bombay Dyeing mentioned in a statement issued.
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Recently, Bombay Dyeing reported that its standalone net loss totalled at Rs. 78.15 crore for the third quarter ended December 31, 2015 as against the standalone net loss of Rs. 65.93 crore for the same period last fiscal. The company’s net sales on standalone basis plunged by 35.12 per cent to Rs. 325.77 crore during the period compared with Rs. 502.18 crore in the corresponding quarter last year. Its revenue from textiles segment totalled at Rs. 48.69 crore during the period under review versus Rs. 145.84 crore in the same period last fiscal. Revenue from polyester segment also dived to Rs. 241.64 crore during the third quarter of the current fiscal as against Rs. 330.63 crore in the year-ago period.
Established in 1879, Bombay Dyeing is the flagship company of the Wadia Group, involved primarily into the business of textiles. It is one of India’s largest producers of textiles.
