Bombay Dyeing Net Dips 81 Per Cent To Rs 4.8 Cr

Mumbai, July 30: | Updated: Jul 31 2003, 05:30am hrs
Bombay Dyeing & Manufacturing Company Ltd has posted a 81 per cent decline in net profit at Rs 4.82 crore for the first quarter ended June 30, 2003 as compared to Rs 25.33 crore during the corresponding period of previous fiscal. Total income (net of excise) has decreased from Rs 193.15 crore to Rs 192.81 crore during the quarter ended June 30, 2003.

The profitability of the DMT division during the first quarter of the current year was adversely affected due to lower offtake of DMT caused by the strike of the weavers in Surat which continued till mid-May. Sales have since picked up and as expected DMT and paraxytene prices have also stabilised in the global markets.

The company said that as on April 1, 2003 no investor complaints were outstanding, and 107 investor complaints were received. 100 complaints resolved during the said period, and seven complaints were pending as on June 30, 2003 which were lodged in the last week of June 2003 and have since been resolved.