Bata India hits 52-week high on healthy Q1 results
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Bata India hit its 52-week high of Rs 611, up 5% on BSE in early morning trade, after the company reported a 20% year-on-year growth in net profit at Rs 60.4 crore in June quarter (Q1FY18). The company engaged in footwear & accessories business had profit of Rs 50.5 crore in year ago quarter.
Net sales during the quarter under review grew 10% at Rs 743 crore against Rs 675 crore in the corresponding quarter of previous fiscal. Earnings before interest, taxation, depreciation and amortisation (EBITDA) margin improved to 14.3% from 13.7%.
“The company saw a gross margin improvement of 1% through introduction of value added products and change in the product mix,” Bata India said in a statement.
Company’s focus on lifestyle segment, improved visual merchandising yielded an impressive 10% growth in same store sales and opening of 40 new stores resulted in 15% growth in retail turnover for this quarter, it added.
At 9:34 am; the stock was up 4.5% at Rs 610 as compared to 0.3% decline in the S&P BSE Sensex. The trading volumes on the counter more than doubled with 2.27 million shares changing hands on NSE and BSE in first 20 minutes of trade.
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