Bombay Dyeing extends rally on over two-fold jump in Q4 net

EBITDA margins improved from 20.4% to 28.6% during the recently concluded quarter.

Bombay Dyeing and Manufacturing Company is trading higher by 4% at Rs 496, extending its previous day’s over 7% rally, on reporting over two-fold surged in net profit at Rs 185 crore for the fourth quarter ended March 31, 2012, on strong show from real estate business. The company had posted a net profit of Rs 81.95 crore in the same period of previous fiscal. Net sales grew 47% at Rs 881 crore on year-on-year basis.

EBITDA (earnings before interest, taxes, depreciation, and amortization) margins improved substantially from 20.4% to 28.6% during the recently concluded quarter.

Meanwhile, the board of directors of the company has recommended a dividend of Rs 5 per equity share of Rs 10 each for the year ended March 31, 2012.

A combined 856,941 shares have already changed hands on the counter so far, against an average around 700,000 shares that were traded daily in past two weeks on both the exchanges.