Bombay Dyeing up 5%

Bombay Dyeing opened itself 5% higher today at Rs.205.80 and figures in the top five gainers on the BSE. Its 52-week high is at Rs.245.70.

The stock has zoomed up 5% yesterday and today on the back of its turnaround performance for Q2FY18. Riding high mainly on robust sales of its realty vertical, the company posted a net profit of Rs.53 crore v/s loss of Rs.37 crore in previous Q2. This turnaround was on a 35% (YoY) rise in income at Rs.692 crore.

Operating profit rose 8 times from Rs.21 crore to Rs.168 crore while the surge in margins was phenomenal – up from 4% to 24.3%.

Out of the net sales of Rs.692 crore, Rs.321 crore (46%) came from realty, Rs.308 crore (44.5%) from polyster and balance, Rs,62 crore (9.5%) from retail and textiles.