Bata India falls after subdued Q2 outcome

Bata India declined 1.99% to Rs 1,228.20 at 09:35 IST on BSE after net profit fell 4.1% to Rs 59.39 crore on 8.6% rise in net sales to Rs 621.58 crore in Q2 June 2014 over Q2 June 2013.

The Q2 result was announced after market hours on Tuesday, 5 August 2014.

Meanwhile, the BSE Sensex was down 18.29 points, or 0.07%, to 25,889.70

On BSE, so far 12,004 shares were traded in the counter compared with average volume of 20,487 shares in the past one quarter.

The stock hit a high of Rs 1,230 and low of Rs 1,200 so far during the day. The stock had hit a record high of Rs 1,360 on 3 July 2014. The stock hit a 52-week low of Rs 765 on 28 August 2013.

The mid-cap company has an equity capital of Rs 64.26 crore. Face value per share is Rs 10.

Bata India said that net profit excluding exceptional items and marketing investment increased approximately by 1%.

Bata India said it will be opening over 100 new stores this year. Rajeev Gopalakrishnan, Group Managing Director, Bata Emerging Markets, Bata India said, "The aggressive retail expansion and renovation of stores, aspirational designs and addition of a wider range of accessories like bags, sunglasses, belts to our product portfolio, the expectation is to increase this growth momentum on the back of increase in consumer confidence level as we move through the year."

Bata India continues to enhance its offerings, which will be further seen in the forthcoming Autumn Winter Collection launching in mid August. Bata India said. Bata India will be opening over 100 new stores this year, the company said.

Bata India is the largest footwear retailer in India, enjoying a large market share in the organized sector. It retails through over 1400 Bata Shoe Stores located in over 500 cities across India.

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