Indian realty-to-textile company Bombay Dyeing and Manufacturing reported a profit in the third quarter on Thursday, aided by a one-off gain from a land sale and lower costs. .
The Wadia Group-owned company reported a consolidated profit of 30.54 billion rupees ($368 million) in the three months to Dec. 31, compared to a loss of 1.01 billion rupees last year.
Total expenses fell by 39.4% to 4.60 billion rupees, largely due to a nearly 99% fall in inventories of finished goods, while its input costs also dropped 4.3%.
Lenders are looking to discuss a proposal to liquidate Go First, a proposal to choose a firm to evaluate its remaining assets, and another proposal to evaluate potential buyers interested in the airline’s assets.
The airline’s lenders could vote on a proposal to liquidate the insolvent airline as early as this week, Moneycontrol has learnt. With this, another domestic airline’s days are set to come to an end