Bombay Dyeing and Manufacturing Company Ltd shares hit a 52-week low on Friday after the company reported a weak set of financial numbers for the December quarter. The stock declined by 2.5 percent to a 52-week low of Rs 69.80 per share on BSE in early trade.

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The leading textiles manufacturer narrowed its consolidated net loss to Rs 106.34 crore for the third quarter of FY2022-23 as against a loss of Rs 232.56 crore in the year-ago period.

The Nusli Wadia group company’s loss stood at Rs 85.32 crore in the September quarter while for the nine months of this fiscal, the net loss stood at Rs 269.60 crore.

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Revenue from operations rose to Rs 651.97 crore in the December quarter of FY23 from Rs 526.50 crore a year ago but was down against Rs 745.22 crore in the September quarter of FY23.

Revenue from the real estate operations rose by nearly twofold to Rs 248.06 crore in Q3 of FY23 from Rs 129.44 crore a year ago but was lower than Rs 280.48 crore in the September quarter.

The polyester division reported Rs 392.92 crore revenue in Q3FY23 compared to Rs 384.10 crore a year ago while the revenue from retail operations declined to Rs 10.99 crore from Rs 12.96 crore a year ago.

The Wadia group flagship firm Bombay Dyeing and Manufacturing Company is the largest textiles producer in India.

Shares of Bombay Dyeing were trading down by 1.05 percent at Rs 70.80 on BSE at 10.30 AM.

(Edited by : Anshul)

First Published:Feb 10, 2023 12:21 PM IST