Bombay Dyeing Q2 net falls 72.5% to Rs 89.19 crore; revenue down 33%

Revenue from polyester segment was at Rs 268.38 crore, down 34.21% from Rs 407.99 crore posted in the year-ago period

Textiles major Bombay Dyeing & Manufacturing Co Ltd on Monday reported a 72.51 per cent decline in consolidated net profit at Rs 89.19 crore in the second quarter ended September 30.

The company had posted a net profit of Rs 324.51 crore in July-September quarter a year ago, Bombay Dyeing said in a BSE filing.

Its revenue from operations fell 33.31 per cent to Rs 555.25 crore during the quarter under review as against Rs 832.62 crore in the corresponding quarter a year ago.

Bombay Dyeing's total expenses declined 21.71 per cent to Rs 473.75 crore as against Rs 605.19 crore in the corresponding quarter last year.

Revenue from real estate segment stood at Rs 193.39 crore in July-September quarter, down 45.72 per cent from Rs 356.33 crore a year ago.

Revenue from polyester segment was at Rs 268.38 crore, down 34.21 per cent from Rs 407.99 crore posted in the year-ago period.

Revenue from retail/textiles segment rose 36.86 per cent to Rs 93.48 crore as against Rs 68.30 crore.

The company also informed that its board has appointed Hitesh Vora as the chief financial officer.

Shares of Bombay Dyeing & Manufacturing Co on Monday settled at Rs 91.05 on the BSE, up 0.05 per cent from previous close.