Net sales tumbled nearly 86% to Rs 91.17 crore in Q1 June 2020 from Rs 648.57 crore registered in the same period last year. The result was announced after market hours yesterday, 20 July 2020.

The company reported a consolidated pre tax loss of Rs 168.34 crore in Q1 June 2020 as against profit before tax of Rs 11.81 crore in Q1 June 2019.

Bombay Dyeing said COVID-19 impacted business operations, manufacturing, sales and revenue and cashflow of real estate operations. The plant of polyester staple fibre (PSF) division started its manufacturing operations from the first week of June 2020. The company said it has taken into account the possible impact of COVID-19 in preparation of the financial results, including its assessment of going concern assumption and the recoverability of the carrying value of the assets, if any. The full extent to which the pandemic will impact future financial results cannot be reasonably ascertained and will depend on how COVID-19 situation evolves over a period of time, Bombay Dyeing said.

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.

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Net loss of Bombay Dyeing & Manufacturing Company reported to Rs 129.25 crore in the quarter ended June 2020 as against net profit of Rs 27.65 crore during the previous quarter ended June 2019. Sales declined 85.94% to Rs 91.17 crore in the quarter ended June 2020 as against Rs 648.57 crore during the previous quarter ended June 2019.

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Bombay Dyeing& Manufacturing Company will hold a meeting of the Board of Directors of the Company on 20 July 2020.

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Net profit of Bombay Dyeing & Manufacturing Company declined 95.96% to Rs 48.57 crore in the quarter ended March 2020 as against Rs 1201.06 crore during the previous quarter ended March 2019. Sales declined 88.76% to Rs 313.10 crore in the quarter ended March 2020 as against Rs 2786.36 crore during the previous quarter ended March 2019.

For the full year,net profit declined 73.60% to Rs 327.83 crore in the year ended March 2020 as against Rs 1241.72 crore during the previous year ended March 2019. Sales declined 57.23% to Rs 1894.62 crore in the year ended March 2020 as against Rs 4429.76 crore during the previous year ended March 2019.

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