Bombay Dyeing posts net profit of Rs 1,253.33 crore in March quarter

Bombay Dyeing & Manufacturing Co Ltd Thursday reported a standalone net profit of Rs 1,253.33 crore for the fourth quarter ended March 2019 led by its real estate activities.

The company had posted a net profit of Rs 10.95 crore in the January-March period a year ago, Bombay Dyeing said in a BSE filing.

Its total income during the period was Rs 2,791.08 crore. It was against Rs 765.21 crore in the corresponding quarter a year ago.

Bombay Dyeing's total expenses was Rs 1,547.42 crore, compared with Rs 629.21 in the year-ago quarter.

"Since the nature of real estate activities being carried out by the company is such that profits/ losses from these transactions do not necessarily accrue evenly over the year, results of a quarter and year may not be representative of profits and losses for the year," the company said.

During the quarter, Bombay Dyeing's revenue from the real estate segment was Rs 2,353.75 crore, compared with Rs 405.78 crore a year ago.

While revenue from Polyester was Rs 367.30 crore and retail and textile was at Rs 65.31 crore. It was at Rs 300.36 crore and Rs 51.62 crore, respectively, in the corresponding quarter a year ago.

For the entire financial year 2018-19, the firm's profit shot up to Rs 1,229.98 crore, compared with Rs 34.41 crore in the previous year.

Its total income in the previous fiscal stood at Rs 4,469.98 crore. It was Rs 2,744 crore in 2017-18.

Meanwhile, in a separate filing, Bombay Dyeing said its board has recommended a dividend of Rs 1.50 per equity share of Rs 2 each for the financial year ended March 31.

Shares of Bombay Dyeing & Manufacturing settled on Thursday at Rs 120.10 apiece, up 6.66 per cent, on the BSE.