Bata India slips after muted Q3 outcome

Bata India fell 2.47% to Rs 1,242.10 at 12:48 IST on BSE after net profit rose 3.77% to Rs 39 crore on 13.22% rise in total income to Rs 558.53 crore in Q3 September 2014 over Q3 September 2013.

The result was announced after market hours on Wednesday, 5 November 2014.

Meanwhile, the BSE Sensex was down 102.43 points, or 0.37%, to 27,813.45.

On BSE, so far 9,956 shares were traded in the counter, compared with an average volume of 17,041 shares in the past one quarter.

The stock hit a high of Rs 1,262.75 and a low of Rs 1,226 so far during the day. The stock hit a record high of Rs 1,412.90 on 7 October 2014. The stock hit a 52-week low of Rs 888.05 on 12 November 2013.

The stock had underperformed the market over the past one month till 5 November 2014, falling 8.26% compared with 5.07% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 1.63% as against Sensex's 7.75% rise.

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

Mr. Rajeev Gopalakrishnan, Group Managing Director, Bata Emerging Markets, Bata India said: "The quarterly performance reflects our focus on maintaining quality sales and growth. With an aggressive plan on opening of new format stores, offering aspirational designs and addition of a wider range of products, the expectation is to amplify the growth momentum". "We will continue to deliver the contemporary range of products to the consumers at high quality and great value. It gives us immense pleasure to welcome new consumers and loyal customers at our stores and offer an enriching experience with great customer service. We aim to deliver better than the best in future as well," he said.

The new range is contemporary, stylish and on trend with aspirational designs targeted to appeal the young generation. The styles will be a combination of trends like cut-work, embellishments, color-blocking, prints, stripes, shimmer with interplay of textures and an amalgamation of colors. The catalogue will cater to a wide range of consumers with an exotic range for men, women and children. The key styles like stilettos, wedges, gladiators, ballerinas, moccasins, ankle straps, sneakers, loafers for women and brogues, driver's, derby, oxford, slip-ons, fisherman sandals and sneakers for men will be seen across the season. The Kid's collection will be a range of trendy sneakers, sandals, floaters, ballerinas, outdoor as well as school shoes, the company said.

The company continues to invest behind opening and renovation of stores, products, people, marketing, systems and processes. Bata India will be opening over 100 new stores this year, the company added.

Meanwhile, the board of Bata India has decided to change the financial year of the company from 'January-December' to 'April-March'. Accordingly, the current financial year of the company shall be extended upto 31 March 2015 covering a period of 15 months commencing from 1 January 2014.

In view of the above, the company shall not publish its Audited Financial Results for the year ended 31 December 2014 on or before 28 February 2015 and shall publish its Audited Financial Results for a period of 15 months, i.e., from 1 January 2014 to 31 March 2015 on or before 30 May 2015.

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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