Bombay Dyeing & Manufacturing Co today reported a 37.31 per cent decline in standalone net profit at Rs 111.92 crore for the March quarter with textiles segment witnessing fall in sales.
The company had posted a standalone net profit of Rs 178.55 crore in the same period previous fiscal, Bombay Dyeing & Manufacturing Co Ltd said in a BSE filing.
Standalone net sales during the quarter under review stood at Rs 656.38 crore as against Rs 745.77 crore in the year-ago period, down 11.98 per cent, it said.
During the quarter the textiles segment posted revenue of 58.58 crore as against Rs 110.25 crore in the corresponding period previous fiscal.
Polyester segment had revenue of Rs 274.96 crore as compared with Rs 280.2 crore in the year-ago quarter, while the real estate vertical had a revenue of Rs 332.22 crore as against Rs 367.39 crore in the same quarter previous fiscal.
For the fiscal ended March 31, 2016, the company posted a net loss of Rs 85.24 crore. It had a net profit of Rs 24.56 crore in the previous year.
Net sales for the year were at Rs 1804.72 crore as against Rs 2,327.68 crore in the previous fiscal, down 22.46 per cent.
The Board of Directors of the company at its meeting held on today has recommended a dividend of 50 paisa per equity share of Rs 2 each for the year ended March 31, 2016.
Shares of Bombay Dyeing & Manufacturing Co Ltd ended the day at Rs 45.40 apiece, up 0.33 per cent from the previous close on BSE.