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Last Updated : Feb 13, 2019 11:26 AM IST | Source: Moneycontrol.com

Bata India hits 52-week high after December quarter results

The strong operational performance pushed the net profit higher by 51.3 percent on a year-on-year (YoY) basis to Rs 103.2 crore, ahead of analysts’ expectation of Rs. 84.1 crore.

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Bata India rose over 3 percent to hit a fresh 52-week high of Rs 1,235 on the NSE on February 13 after the company registered a strong performance in the December quarter with revenues growing 15.5 percent and operating profit margin (OPM) improving 450 bps.

At 1000 hours, Bata India was trading 3 percent higher at Rs 1,227. It hit a fresh 52-week high of Rs 1,235 on the NSE and an intraday low of Rs 1,198.20.

The strong operational performance pushed the net profit higher by 51.3 percent year-on-year (YoY) to Rs 103.2 crore, ahead of analysts’ expectation of Rs. 84.1 crore.

“Bata has reported yet another strong quarter on the back of addition of multiple new red-concept stores, renovation of existing stores and refreshed products across categories,” Sharekhan said in a note.

“Gross margins increased 350bps YoY at 58.6 percent, highest since past many quarters. Better product mix and muted input cost have led to this strong gross margin expansion,” it said.
First Published on Feb 13, 2019 11:26 am
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