Bombay Dyeing in red

Bombay Dyeing, in Q1FY21, when the impact of the lockdown was at its most intense, had posted a net loss of Rs.129 crore and now in Q2FY21, the net loss has come down to Rs.91 crore.

The loss begins with the huge 61% (YoY) drop in total revenue at Rs.217 crore of which lions share – almost 80%, Rs.176 crore, came from polyester and Rs.35 crore from realty.

Its interest outgo for the quarter rose to Rs.150 crore, up from Rs.138 crore (YoY).

Thanks to the write-back of deferred tax of Rs.29 crore, the loss came in at Rs.91 crore; loss before tax was at Rs.119 crore.  

The stock is in the red, going down over 3% to Rs.62 and is currently trading at Rs.63, down over 1.5%. Its 20% LC for the day is at Rs.51.25.