Bombay Dyeing stock fell by 7.4% after the company's consolidated March quarter profit tumbled by 96% on a YOY basis to Rs.48.63 crore. This compares very unfavourably with a net profit of Rs.1257 crore in the previous year. Even on a full year basis, the net profits fell by 73% at Rs.329 crore. Overall revenues also fell in Mar-20 quarter by 89% to Rs.313 crore.

The company became operationally unprofitably in the March quarter as the sharp fall in sales meant that even the fixed costs could not be covered adequately. As a result, the EBITDA came in at (Rs.-24.81) crore for the March quarter and was only rescued by some non-recurring flows which helped close the quarter on a net profit.