One of the leading producers of textiles in India, Bombay Dyeing & Manufacturing Company Limited reported a consolidated net loss of Rs. 91 crore (US $ 12.3 million) in the second quarter ended 30 September 2020.
In comparison, the company had posted a net profit of Rs. 90 crore in the corresponding period of the previous fiscal year.
As for the net sales registered by the company during the quarter under review, it fell 61 per cent to Rs. 217 crore, whereas it stood at Rs. 555 crore in the same period last year.
So far as the company’s revenues in the quarter are concerned, it posted Rs. 176 crore in the polyester segment and Rs. 6 crore in the textile segment.
It is quite evident, and Bombay Dyeing confirmed so, that the global pandemic of COVID-19 that resulted in devastating businesses and economies is to be blamed for the company’s losses too.
Bombay Dyeing currently runs 27 company-owned outlets and 3,000 multi-brand stores, along with more than 400 franchise stores across India.
