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Bata India stock up nearly 3% despite dip in Q2 profit

Press Trust of India  |  New Delhi 

of footwear major today rose by nearly 3 per cent even as the company reported 36.35 per cent fall in net profit for the September quarter.

The stock gained 2.34 per cent to settle at Rs 413.25 on Intra-day, it went up by 3.60 per cent to Rs 418.35.

On NSE, it jumped 2.58 per cent to close at Rs 412.95.

Value-buying is likely to have helped the stock gain some ground after falling over 4 per cent in the past two trading sessions.

today reported a 36.35 per cent fall in net profit at Rs 34.59 crore for the second quarter ended September 30, 2016-17.

The company had posted net profit of Rs 54.35 crore in the year-ago period.

However, its total income from operations increased by 1.56 per cent to Rs 583.74 crore from Rs 574.73 crore during the same period a year ago, said in a filing.

It had also made an exceptional income of Rs 31.75 crore during the September quarter of last financial year, the company said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 25 2016. 18:07 IST