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Bombay Dyeing registers Q1 net loss at Rs 27.50 cr
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Textile firm Bombay Dyeing & Manufacturing Company posted a net loss of Rs 27.50 crores for the first quarter ended June 30, 2012, due to overall higher expenses. The company had posted a net loss of Rs 39.79 crores during the same period of previous fiscal, Bombay Dyeing said in a filing to the BSE.
Net sales of the company rose to Rs 465.73 crores for the first quarter ended June 30, 2012, as compared to Rs 394.84 crores during the same period of 2011-12 fiscal. During the quarter under review, the company’s total expenses stood at Rs 480.08 crores, as compared to Rs 412.83 crores during the same period of previous fiscal.
Bombay Dyeing also announced that its board has approved a share split in the ratio of 1:5 or one share will be split into five shares. “The board at its meeting held on August 7 approved the sub-division of each equity share of the company of the face value of Rs 10 each fully paid up into 5 equity shares of the face value of Rs 2 each on and from the record date to be announced after the proposal is approved by the shareholders,” the company said in a filing to the BSE.
The company recently introduced its textile brand by setting up its first franchise operated store in Jeddah in Saudi Arabia. In the past, the brand was distributed in certain markets in West Asia. As a part of its overseas expansion plan, it would launch more outlets across West Asia and the SAARC countries. Bed and bath continues to be Bombay Dyeing’s core category, comprising nearly 80 per cent of its sales. The company also dabbles in smaller categories such as school uniforms, sarees, suiting and shirting materials in certain markets.
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