Bata India hits fresh 52-week low; shares down 25% since Q1 result
Shares have declined around 25 per cent since the announcement of first quarterly numbers on August 3, whereas Sensex has declined 6 per cent during the same period.
By ETMarkets.com | Updated:
NEW DELHI: Bata India stock on Thursday hit its fresh one-year low of Rs 410.85, ahead of the company's September quarter results scheduled for Friday.
Shares of the company have declined around 25 per cent since the announcement of first quarterly numbers on August 3, whereas the BSE Sensex has declined 6 per cent during the same period.
For the quarter ended June 30, 2016, the company reported a net profit of Rs 50.50 crore, down 45.23 per cent as against Rs 92.20 crore profit in the corresponding quarter last year. Revenue of Bata India declined 0.85 per cent on a year-on-year basis to Rs 674.66 crore. It had reported topline of Rs 680.46 crore in the same quarter last fiscal. Other income surged by 151 per cent yoy to Rs 11.03 crore.
Bata India was trading 0.72 per cent down at Rs 415 in morning trade on Thursday. The scrip opened the day at Rs 419.60 and had touched a high and low of Rs 419.60 and Rs 410.85, respectively, in trade so far. BSE Sensex was down 94.69 points, or 0.36 per cent, at 25,957.12.
On BSE, so far 45,000 shares were traded in the counter, compared with average daily volume of 61,000 shares in the past two weeks.
Nirmal Bang is expecting a robust Q2 result from Bata India. The brokerage house in a research note said, “We expect Bata India to increase its sales, EBITDA and net profit by 9 per cent, 45.7 per cent and 47.7 per cent, respectively. Strong PAT growth can be attributed to the improvement in operating margin mainly because of the decline in other expenses as a percentage of sales.”
Shares of the company have declined around 25 per cent since the announcement of first quarterly numbers on August 3, whereas the BSE Sensex has declined 6 per cent during the same period.
For the quarter ended June 30, 2016, the company reported a net profit of Rs 50.50 crore, down 45.23 per cent as against Rs 92.20 crore profit in the corresponding quarter last year. Revenue of Bata India declined 0.85 per cent on a year-on-year basis to Rs 674.66 crore. It had reported topline of Rs 680.46 crore in the same quarter last fiscal. Other income surged by 151 per cent yoy to Rs 11.03 crore.
Bata India was trading 0.72 per cent down at Rs 415 in morning trade on Thursday. The scrip opened the day at Rs 419.60 and had touched a high and low of Rs 419.60 and Rs 410.85, respectively, in trade so far. BSE Sensex was down 94.69 points, or 0.36 per cent, at 25,957.12.
On BSE, so far 45,000 shares were traded in the counter, compared with average daily volume of 61,000 shares in the past two weeks.
Nirmal Bang is expecting a robust Q2 result from Bata India. The brokerage house in a research note said, “We expect Bata India to increase its sales, EBITDA and net profit by 9 per cent, 45.7 per cent and 47.7 per cent, respectively. Strong PAT growth can be attributed to the improvement in operating margin mainly because of the decline in other expenses as a percentage of sales.”
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