Bata India hits 52-week high on healthy Q1 results

The stock hit a 52-week high of Rs 611, up 5% on BSE in early morning trade

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Bata Shoes chairman Thomas G Bata (left) with Rajiv Gopalakrishnan. Bata is developing clutter-free designs for its flagship stores.

SI Reporter Mumbai

Last Updated : Aug 03 2017 | 9:42 AM IST

Bata India hit its 52-week high of Rs 611, up 5% on BSE in early morning trade, after the company reported a 20% year-on-year growth in net profit at Rs 60.4 crore in June quarter (Q1FY18). The company engaged in footwear & accessories business had profit of Rs 50.5 crore in year ago quarter.

Net sales during the quarter under review grew 10% at Rs 743 crore against Rs 675 crore in the corresponding quarter of previous fiscal. Earnings before interest, taxation, depreciation and amortisation (EBITDA) margin improved to 14.3% from 13.7%.

“The company saw a gross margin

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