Bata India jumps after good Q3 numbers

Bata India rose 4.28% to Rs 1239.85 at 11:36 IST on BSE after net profit rose 51.4% to Rs 103.18 crore on 15.5% increase in net sales to Rs 778.70 crore in Q3 December 2018 over Q3 December 2017.

The result was announced after market hours yesterday, 12 February 2019.

Meanwhile, the S&P BSE Sensex was up 93.32 points, or 0.26% to 36,246.94.

On the BSE, 1.47 lakh shares were traded in the counter so far compared with average daily volumes of 50,000 shares in the past two weeks. The stock had hit a high of Rs 1244.40 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 1199.95 so far during the day. The stock hit a 52-week low of Rs 673.60 on 20 March 2018.

Revenues were buoyed by robust festive sales, well-received consumer campaigns and the expansion of 50 new red-concept stores, the company said.

Bata India is the largest footwear retailer in India, offering footwear, accessories and bags across brands like Bata, Hush Puppies, Naturalizer, Power, Marie Claire, Weinbrenner, North Star, Scholl, Bata Comfit and Bubblegummers to name a few.

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