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Bombay Dyeing & Manufacturing fiscal Q1 loss widens 94.5% YOY

Bombay Dyeing & Manufacturing Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 1.63 Indian rupees per share, compared with a loss of 84 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 335.2 million rupees, compared with a loss of 172.3 million rupees in the prior-year period.

The normalized profit margin dropped to negative 6.2% from negative 3.3% in the year-earlier period.

Total revenue increased 5.0% year over year to 5.42 billion rupees from 5.16 billion rupees, and total operating expenses grew 8.2% year over year to 5.53 billion rupees from 5.11 billion rupees.

Reported net income totaled a loss of 536.3 million rupees, or a loss of 2.60 rupees per share, compared to a loss of 275.7 million rupees, or a loss of 1.34 rupees per share, in the year-earlier period.

As of Aug. 7, US$1 was equivalent to 61.24 Indian rupees.