Bombay Dyeing Q4 results: Wadia firm's net loss widens to Rs 246 cr

Bombay Dyeing Limited on Thursday reported widening of net loss by 490 per cent at Rs 246.1 crore for the quarter ending March 31, 2023. It reported consolidated net loss of Rs 41.74 crore in the year-ago period.  

Bombay Dyeing is the flagship company of the Wadia Group, which also owns the cash- strapped airline carrier 'Go First', which filed for voluntary insolvency proceedings with the National Company Law Tribunal (NCLT) on Monday, over mounting losses, attributed to delays in the delivery of engines, resulting in grounding of half of its fleet.

Bombay Dyeing’s consolidated revenue from core operations rose 12 per cent to Rs 670.17 crore for the fourth quarter ended March 2023 as compared to Rs 598.01 crore a year ago. Other income of the company rose by almost 50 per cent to Rs 20.58 crore as against Rs 10.15 crore a year ago

The expenses of the company have climbed to Rs 909.82 crore as compared to Rs 645.08 crore a year ago.

After the results announcement, Bombay Dyeing's scrip closed Thursday trading session with 1.82% lower at Rs 86.5.

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