Financial Daily from THE HINDU group of publications
Friday, Sep 19, 2003
Financial Daily from THE HINDU group of publications Friday, Sep 19, 2003 |
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Corporate
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Buyback Bombay Dyeing board to consider buyback Our Bureau
Mumbai , Sept. 18 THE board of directors of Bombay Dyeing & Manufacturing Company Ltd will meet on September 24 to consider a proposal for another round of buyback of the company's equity shares. The company had recently completed a buyback programme at the end of which the promoter's holding in Bombay Dyeing rose to 43.19 per cent from 42.58 per cent as at the end of last fiscal. The previous share buy-back which was spread over two fiscals reduced the company's capital base by 1.83 per cent. According to its annual report of 2002-03, Bombay Dyeing's share capital was Rs 39 crore, marginally down from Rs 39.17 crore in the financial year 2002 and Rs 41 crore in the financial year 2001. The company had reported sales of Rs 194 crore during the first quarter of the current fiscal. Its profit after tax during this period stood at Rs 4.82 crore compared to Rs 25.33 crore in the corresponding period last year.
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