Shares of Bombay Dyeing & Manufacturing Company declined nearly 3% on May 7’s trading session. This came after the company’s fourth quarter results showed revenue increased 3.2% but its EBITDA loss expanded compared to the previous quarter.
In the quarter ended March 2024, Bombay Dyeing reported sales of Rs 380.65 crore, down 43.2% from Rs 670.17 crore in the same period last year. However, the company posted a net profit of Rs 66.46 crore compared to a net loss of Rs 246.09 crore in the previous year’s quarter.
For the full financial year 2023-24, Bombay Dyeing reported a net profit of Rs 2,948.63 crore against a net loss of Rs 516.70 crore in 2022-23. Annual sales declined 36.85% to Rs 1,688.48 crore from Rs 2,673.73 crore in the previous year.
Despite the annual profit, Bombay Dyeing’s EBITDA loss in the March 2024 quarter expanded compared to the previous quarter.
As of 10:43 am, Bombay Dyeing shares were trading 2.10% lower at Rs 172.45 on the National Stock Exchange (NSE).
