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Bombay Dyeing share price falls on dismal Q2 earnings

The company's sales declined 60.9 percent to Rs 217.08 crore in the quarter ended September 2020 from Rs 555.25 crore in the year-ago period.

October 21, 2020 / 03:06 PM IST
 
 
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Bombay Dyeing and Manufacturing Company share price was trading lower more than 2 percent intraday on October 21 after the company reported a loss of Rs 90.68 crore in the September quarter against a profit at Rs 89.51 crore in the year-ago period.

The company's revenue fell to Rs 217 crore from Rs 555 crore YoY.

The company's net sales declined 60.9 percent to Rs 217.08 crore in the quarter ended September 2020 from Rs 555.25 crore during the same period last year.

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The company's revenue from the polyester segment fell 34.48 percent YoY to Rs 175.84 crore. The real-estate segment revenue fell 82 percent to Rs 34.82 crore and textile revenues slumped 93.13 percent to Rs 6.42 crore in Q2 September 2020 over Q2 September 2019.

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The stock was trading at Rs 62.65, down Rs 1.40, or 2.19 percent at 1432 hours. It has touched an intraday high of Rs 63.75 and an intraday low of Rs 62.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing weak momentum: price below short, medium and long term averages.

Moneycontrol technical rating is very bearish with moving averages and technical indicators being bearish.

Disclaimer: The views and investment tips expressed by experts on moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​
Moneycontrol News
first published: Oct 21, 2020 03:04 pm

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