 "Bata India hits 52-week high on healthy Q1 results")
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.
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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