Bata India fell 3.32% to Rs 469.80 at 9:47 IST on BSE as the company's Q2 September 2015 net profit was boosted by exceptional item.
The result was announced after market hours yesterday, 4 November 2015.
Meanwhile, the BSE Sensex was down 69.30 points, or 0.26%, to 26,483.62.
On BSE, so far 82,000 shares were traded in the counter, compared with an average volume of 33,565 shares in the past one quarter.
The stock hit a high of Rs 473.80 and a low of Rs 464.50 so far during the day. The stock hit a record high of Rs 747.50 on 22 January 2015. The stock hit a 52-week low of Rs 464.50 on 5 November 2015.
The stock had underperformed the market over the past one month till 4 November 2015, falling 8.25% compared with 1.27% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 20.32% as against Sensex's 5.41% decline.
The mid-cap footwear retailer and manufacturer has an equity capital of Rs 64.26 crore. Face value per share is Rs 5.
Bata India's net profit rose 38.72% to Rs 54.11 crore on 4.48% rise in total income to Rs 583.56 crore in Q2 September 2015 over Q2 September 2014.
Exceptional item represents gain from sale of trademark (Sparx) of Rs 60.80 crore and charge off of expenditure incurred (except the expenditure on perpetual license) amounting Rs 29.10 crore on setbacks in implementation of enterprise resource planning (ERP) system.
Bata India is a retailer and leading manufacturer of footwear in India.
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