Bombay Dyeing narrows Q3 loss, net sales up 6.68 percent

Bombay Dyeing and Manufacturing reported a net loss of Rs 65.93 crores for the third quarter ended December 31, 2014, compared to Rs 93.15 crores for the same period of previous fiscal.

Net sales in the quarter under review stood at Rs 502.18 crores, up 6.68 percent compared with Rs 470.70 crores for the year-ago period. The company’s overall expenses stood at Rs 527.28 crores against Rs 529.63 crores in the year-ago period.

In a bid to reach out to the young Indian consumers, the flagship textile company of the Wadia Group has planned aggressive retail expansion apart from revamping its product portfolio to make it relevant for the today’s shoppers. Established by Nowrosjee Wadia in 1879 as a small operation of Indian spun cotton yarn dip dyed by hand, Bombay Dyeing has been one of the largest and successful textile companies in the country.