Bata India lost 4.98% to Rs 1,015 at 12:23 IST on BSE after net profit rose 2.44% to Rs 39.40 crore on 9.15% rise in total income from operations (net) to Rs 495.43 crore in Q1 March 2014 over Q1 March 2013
The result was announced on Thursday, 1 May 2014, when the stock market was closed on account of May Day.
Meanwhile, the BSE Sensex was up 13.90 points, or 0.06%, to 22,431.70
On BSE, so far 25,668 shares were traded in the counter compared with average volume of 16,972 shares in the past one quarter.
The stock hit a high of Rs 1,055 and low of Rs 1,003 so far during the day. The stock had hit a record high of Rs 1,157 on 31 March 2014. The stock hit a 52-week low of Rs 712.30 on 30 April 2013.
The stock had underperformed the market over the past one month till 30 April 2014, falling 5.34% compared with the Sensex's 0.35% rise. The scrip had, however, outperformed the market in past one quarter, rising 15.85% as against Sensex's 9.36% rise.
The mid-cap company has an equity capital of Rs 64.26 crore. Face value per share is Rs 10.
Mr. Rajeev Gopalakrishnan, Group Managing Director of Bata Emerging Markets said In the first quarter of 2014, our turnover has grown by 9.1% as compared to the same period last year and we have invested in a fully integrated marketing campaign which appeals to sensibilities of the Indian consumer across all age groups and demographic profiles. This only reinstates our commitment to deliver quality, value, aspirational and contemporary products to our customers. With 2013 ending as a successful and profitable year for Bata India, we aim to continue the trend in 2014. We are confident that we will succeed in our endeavour to expand our geographic footprint, add newer products and deliver on our expectations as we move forward in the year.
He also added, Reflecting on the first quarter, the massive 360-degree integrated marketing campaign, 'where life meets style' was launched along with an innovative TV commercial shot waist down to capture moments of one's life. We are confident that such investments will offer tremendous value to our consumers and stakeholders.
Bata has nearly 1400 stores and plans to open 100 new stores across markets this year. While Bata India is already present in tier 1 and 2 markets, the company will continue to strengthen its presence in the country and make the brand accessible to their existing and potential customers.
The new summer'14 collection is a combination of trends and great amount of gratifying experimentation resulting into a wide mix of loafers, ballerinas, sneakers, floaters, formal and outdoor collection catering to men, women, teens and kids. Special collections like the contemporary men's casual shoes and ballerinas for women will be seen as the key highlight for the season.
Bata India is the largest footwear retailer in India, enjoying a large market share in the organized sector. It retails through over 1400 Bata Shoe Stores located in over 500 cities across India.
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