According to the unaudited results of Bombay Rayon Fashions Ltd, a vertically integrated textile and apparel manufacturer, the company’s performance during the first quarter of the current financial year, has come down. The company has reported a net loss of Rs 4.11 billion. BRFL had reported a net profit of Rs 483.60 million in the preceding quarter. In the corresponding quarter of the previous year, the company had earned a net profit of Rs 496.20 million.
During 2012-13 financial year, the company’s net profit was Rs 1.88 billion. During April-June 2013, net sales were down to Rs 6.08 billion, a fall of 47.30% compared to net sales in the preceding quarter, and 25.72% lower than net sales during April-June 2012. High interest costs, currency fluctuations and inventory valuations after expansion, have eroded the company’s performance during this quarter.