Leading textile company Bombay Dyeing & Manufacturing Co’s net loss widened to Rs 120 crore ($15 million) for the first quarter ended June 30, as against Rs 76 crore in the year-ago period.
The company’s revenue for the quarter decline to Rs 498 crore, as against Rs 606 crore in the corresponding period of the previous year.
Bombay Dyeing also informed that the board of directors have approved the termination of the Deposit Agreement with Citibank NA for the company’s Global Depository Receipts (GDRs).
Additionally, its GDRs are set to be delisted from the Luxembourg Stock Exchange.
Bombay Dyeing is one of the largest textile manufacturers in the country and owns the menswear brand Cezari. It currently has 27 company-owned stores, 3,000 multi-brand stores, and over 400 franchise stores across India.
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