Bata India hits new high on strong December quarter results

The stock was up 4% at Rs 1,235 after the company reported strong growth of 51 per cent in net profit at Rs 103 crore in December 2018 quarter.

Shares of Bata India hit a new high of Rs 1,235 apiece, up 4 per cent on the BSE in early trade on Wednesday, after the company reported strong growth of 51 per cent in net profit at Rs 103 crore in December 2018 quarter (Q3FY19). The footwear company had a profit of Rs 68 crore in the year-ago quarter.

Operational revenues grew 16 per cent at Rs 779 crore in Q3FY19 against Rs 674 crore in the corresponding quarter of previous fiscal. Ebitda (earnings before interest, taxation, depreciation and amortisation) margin improved 450 basis points to 21 per