InvestorQ : Is Bombay Dyeing a stock to pick up at the current price of Rs.63. What do you think?
Mitali Bhutta made post

Is Bombay Dyeing a stock to pick up at the current price of Rs.63. What do you think?

Answer
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Dawn Cherian answered.
3 months ago


The stock of Bombay Dyeing fell by 7.4% to Rs.63.45 after its net profit for the Mar-20 quarter fell sharply by 96% to Rs.48.63 crore. Full fiscal year net profits fell 73.26% to Rs.1230 crore. Net profit margin dwindled to 15.51% in the quarter. Due to the virus pandemic, the total revenues were 88.76% lower at Rs.313 crore even as full year revenues slipped by 57.22% to Rs.1894 crore. The stock has plunged 50% at a time when the overall market has done well and that is not a good sign. The stock is best avoided.