Shares of Bombay Dyeing and Manufacturing Company Limited fell as much as 8 percent to Rs 63.10 on reporting a 96.1 percent year-on-year decline in the net profit of the company for the March-ended quarter. The Wadia group company posted a net profit of Rs 48.63 crore when compared to Rs 1,253.37 crore for the same period a year ago.
For the whole financial year 2019-20, the company's net profit was down 73.96 percent to Rs 328.85 crore from Rs 1,230.11 crore in the previous year.
Its revenue from operations declined 88.76 percent to Rs 313.10 crore during the March ended quarter from Rs 2,786.36 crore in the corresponding quarter.
Bombay Dyeing's board recommended a dividend of 20 paise per equity share of Rs 2 each for the financial year ended 31 March 2020.