Leading textiles producer Bombay Dyeing & Manufacturing Company has posted a net loss of Rs 578 million for the quarter ended December 31, 2008 as compared to net loss of Rs 370.10 million for the quarter ended December 31, 2007.
However, the total income has increased from Rs 3079.00 million for the quarter ended December 31, 2007 to Rs 3248.50 million for corresponding period of 2007.
The company, which has diversified into real estate, so far in FY09, has registered a loss of Rs 2.10 billion — over 42 times more than the loss incurred by the company in the corresponding period last year. Poor performance of the textiles and polyester businesses of the company dented the company’s quarterly numbers.
A part of the Wadia Group, Bombay Dyeing is India’s leading producer and retailer of textile. It operates mainly through company-owned showrooms across India apart from franchise stores. Bombay Dyeing in India is a distribution chain consisting of 600 plus exclusive shops spread all over the country.
— Shailesh Shah