Bata India rose 3% to Rs 601 at 9:15 IST on BSE after net profit rose 19.7% to Rs 60.43 crore on 11% increase in net sales to Rs 736.06 crore in Q1 June 2017 over Q1 June 2016.
The result was announced after market hours yesterday, 2 August 2017.Meanwhile, the S&P BSE Sensex was down 48.22 points, or 0.15% to 32,428.52.
On the BSE, 4,229 shares were traded in the counter so far, compared with average daily volumes of 45,373 shares in the past one quarter. The stock had hit a high of Rs 603.60 and a low of Rs 600 so far during the day. The stock hit a 52-week high of Rs 605.50 on 2 August 2016. The stock hit a 52-week low of Rs 400 on 25 November 2016.
The stock had underperformed the market over the past one month till 2 August 2017, rising 1.37% compared with 4.06% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 0.03% as against Sensex's 7.80% rise. The scrip had also underperformed the market in past one year, rising 5.48% as against Sensex's 17.26% rise.
The mid-cap company has equity capital of Rs 64.26 crore. Face value per share is Rs 5.
Bata India said its focus on lifestyle segment, improved visual merchandising yielded an impressive 10% growth in same store sales and opening of 40 new stores resulted in 15% growth in retail turnover for this quarter. Additional footfalls were generated through various marketing initiatives including the recently launched TV campaign. The company saw a gross margin improvement of 1% through introduction of value added products and change in the product mix.
Bata India also announced the appointment of Sandeep Kataria as Bata India's Country Manager.
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Bata India is the largest footwear retailer in India, offering footwear, accessories and bags across brands like Bata, Hush Puppies, Naturalizer, Power, Marie Claire, Weinbrenner, North Star, Scholl, Bata Comfit and Bubblegummers to name a few. It retails in over 1,290 Bata stores, on bata.in and in thousands of multi-brand footwear dealer stores pan-India.
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