Bata India Gains Over 4% Even After Profit Declines 23% In March Quarter

Bata India Share Price Today: On Thursday, Bata India opened on the BSE at Rs 1,540, swinging to an intra day high of Rs 1,657.50 and an intra day low of Rs 1,540, so far.

Share price of Bata India gained more than four per cent on Thursday, June 10, a day after the company announced its January-March quarter results for the financial year 2020-21. On Thursday, Bata India opened on the BSE at Rs 1,540, swinging to an intra day high of Rs 1,657.50 and an intra day low of Rs 1,540, in the trading session so far. According to a regulatory filing by the company to the stock exchanges, Bata India reported a net profit of Rs 29.47 crore on a consolidated basis in the March quarter of fiscal 2020-21. The country's largest shoemaker's net profit declined 23.3 per cent in the March quarter of fiscal 2021. It reported a net profit of Rs 38.40 crore in the corresponding quarter of the previous fiscal year. The company's revenue from operations was down to Rs 589.90 crore in the fourth quarter, compared to Rs 620.57 crore in the same quarter of the previous fiscal. According to the statement, Bata India's board recommended a dividend of 80 per cent - Rs 4 per equity share of Rs 5 each fully paid up for the financial year 202-21. For the entire financial year, Bata India reported a net loss of Rs 89.31 crore, compared to a net profit of Rs 32.89 crore in the year-ago period.