Bata India surges 6%, nears 52-week high post March quarter results

Bata India's gross margins witnessed an improvement of around 160 basis points (bps) quarter-on-quarter (QoQ) to 53.1 per cent, indicating green shoots in formal and fashion footwear demand

Shares of Bata India surged 6 per cent to Rs 1,657.50 on the BSE in intra-day trade on Thursday on expectations that the company would be able to revive its revenue growth trajectory as and when the impact of the Covid-19 phases out. The stock of the footwear company was trading close to its 52-week high level of Rs 1,705 touched on January 11, 2021.

For the January-March 2021 quarter (Q4FY21), Bata reported revenue de-growth of 4.8 per cent year-on-year (YoY) to Rs 589.9 crore on a favourable base of Q4FY20. The profit after tax declined 21.9 per cent YoY to