URL copied to clipboard

Trending News

Bata India Q1 Results: Shares Tumble 4% Following Weak Q1 Earnings

Bata India's shares dropped 4% due to weak Q1 results, despite a profit rise. The company expanded its network, renovated stores, and opened 33 new franchises, focusing on casual footwear.

On Wednesday, Bata India’s shares fell by nearly 4% to ₹1,459.55 each on the NSE after the company announced disappointing results for the June 2024 quarter. Despite a 62.84% year-on-year (YoY) increase in Q1 net profit to ₹174 crore, this included a one-time gain of ₹134 crore from selling a property.

Trade Intraday, Equity and Commodity in Alice Blue and Save 33.3% Brokerage.

The company’s total consolidated income for the quarter dropped by 1.08% YoY to ₹960.8 crore. Additionally, earnings before interest, taxes, depreciation, and amortisation (EBITDA) decreased by 23% YoY to ₹184.9 crore.

By June 30, 2024, Bata India expanded its network to include 1,916 Company Owned Company Operated (COCO) and franchise stores. The company also renovated 37 stores during the quarter, focusing on portfolio upgrades.

Bata’s casual footwear strategy, led by its sneaker brand Power, performed well. The company also expanded its Sneaker Studios and Floatz Kiosk.

To cater to growing demand in tier 3-5 towns, Bata opened 33 franchise stores during the quarter. This expansion aims to meet the increasing demand for branded products and achieve better returns on capital.

Loading
Read More News

फार्मा स्टॉक में उछाल, ₹177 करोड़ के ब्राउनफील्ड प्रोजेक्ट के लिए कैपेक्स की घोषणा की।

फार्मा स्टॉक ने झगड़िया में ₹177 करोड़ का अपग्रेड प्लान किया है, जिससे संचालन ऑटोमेट होगा और इलेक्ट्रोलाइट एडिटिव्स सुविधा