Leading textile manufacturer Bombay Dyeing & Manufacturing Company reported a net loss of Rs 167 crore ($22.5 million) for the fourth quarter ended March 2021, as against a net profit of Rs 49 crore it reported in the corresponding period last year.
The company’s sales revenue for the quarter rose by 59 percent to Rs 499 crore, as against Rs 313 crore it reported in the year-ago period.
For the full financial year 2021, Bombay Dyeing’s net loss stood at Rs 469 crore, as compared to a net profit of Rs 328 crore during the previous year ended March 2020 while its revenue declined 37 percent to Rs 1193 crore, as against Rs 1894 crore during the previous year.
The fourth quarter also saw the exit of Bombay Dyeing’s managing director Jeh Wadia as he stepped down from the position. Jeh Wadia, whose term expired on March 31, had held the position since April 2011.
Bombay Dyeing is one of the leading textile manufacturers in the country and owns menswear brand Cezari. It currently has 27 company-owned stores, 3,000 multi-brand stores, and over 400 franchise stores across India.
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