Bombay Dyeing, a well-known Indian textile company, has posted a net loss of Rs. 397.9 million during the first quarter of the current fiscal year 2011-12, compared to a net loss of Rs. 306.1 million during the corresponding quarter in fiscal year 2010-11, thus increasing its net loss by almost 30 percent.
High expenses including in purchase of traded goods, decline in net sales, and increase in consumption of raw materials are the factors that led to the widening of net loss.
The firm's net sales declined to Rs. 3.98 billion during the quarter ended June 30, 2011 compared to net sales of Rs. 4.18 billion achieved during the same period in previous fiscal, registering a decline of 4.86 percent.
While the company's raw material consumption rose to Rs. 3.20 billion from Rs. 2.47 billion, i.e. an increase of 29.52 percent, its purchase of traded goods increased from Rs. 148.1 million to Rs. 244.2 million.
For the financial year 2010-11, Bombay Dyeing had registered a profit of Rs. 213.9 million.
Fibre2fashion News Desk - India
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