Mumbai:Textile maker Bombay Dyeing and Manufacturing Co. said its first-quarter profit rose 21%. Net income rose to Rs17.88 crore in the three months ended 30 June from Rs14.76 crore in the year earlier, the Mumbai-based company said in a release to the Bombay Stock Exchange (BSE) on Wednesday.
Revenue rose to Rs1.34 crore from Rs1.24 crore.
The board of directors also approved the sale of 1.93 million convertible warrants to the founders at a price as per Securities & Exchange Board of India’s rules. Each warrant can be converted into a share any time before 18 months from the issue date, the company said in a separate note to BSE.