Bombay Dyeing Q4 net loss narrows to Rs 42 crore

Bombay Dyeing & Manufacturing Company on Wednesday reported a consolidated net loss of Rs 41.74 crore in Q4 FY22 lower than net loss of Rs 166.74 crore posted in Q4 FY21.

Revenue from operations grew by nearly 20% to Rs 598 crore in Q4 FY22 from Rs 498.95 crore recorded in Q4 FY21. The company reported a pre-tax loss stood of Rs 37.39 crore in Q4 FY22 lower than pre-tax loss of Rs 103.44 crore posted in the same quarter last year.

The polyester segment reported a 61% jump in revenue to Rs 455.52 crore in Q4 FY22 over Q4 FY21. Meanwhile, revenue from real estate segment declined 33% year on year to Rs 140.60 crore while revenue from the retail/textile segment tumbled 67.6% YoY to Rs 1.89 crore in Q4 FY22 over Q4 FY21.

 

On full year basis, the company reported a net loss of Rs 460.32 crore in financial year ended 2022 as against a net loss of Rs 469.12 crore in financial year ended 2021. Revenue from operations surged 67.6% to Rs 2,000.92 crore in FY22 over FY21.

Vinod Jain has been has been appointed as the chief financial officer (CFO) & chief risk officer (CRO) of the company with effect from 9 May 2022. He is a chartered accountant and a company secretary with rich and varied experience of more than 25 years in finance, accounting, corporate banking, project financing, debt restructuring, fund raising and international listing.

Meanwhile, the company on 2 May announced that chief financial officer (CFO) & chief risk officer (CRO), Hitesh Vora resigned from his position. Vora will cease to be the CFO and CRO of the company from close of business hours on 8 May 2022.

Bombay Dyeing & Manufacturing Company is a holding company engaged primarily in the business of real estate development, polyester staple fibre and retail. The company's segments include real estate, polyester and retail/textile.

Shares of Bombay Dyeing & Manufacturing Company declined 2.28% to end at Rs 117.85 on the BSE.

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