Bombay Dyeing deep into the red with Rs 7 cr loss

Bombay Dyeing reported an increase in net loss for the quarter ended March 31, 2006 at Rs 7.4 crore compared with a net loss of Rs 3.44 crore in the corresponding quarter last year.

The rise in loss was due to reduction in the company's net sales, which decreased 25 per cent to Rs 212 crore during the quarter from Rs 286 crore in the March 2005 quarter.

However, the textile player fared well for the whole year 2005-06, as its net profit for the year jumped almost 135 per cent at Rs 61.3 crore from Rs 26.5 crore in 2004-05. The good show for the full year was because of reduction in expenditure.

Although the company's net sales for FY06 was down about 2 per cent at Rs 1,013 crore from Rs 1,025 crore, its expenditure went down almost 5 per cent to Rs 945 crore from Rs 988 crore in FY05.