New Delhi (Anish Yande): Shares of Bata India rose by over 3 per cent on Thursday's trading session following the announcement of results for the March quarter of 2021. Bata India shares opened at Rs 1,551 per share from its previous close of Rs 1,557 per share on Thursday. The shares of the footwear company rose to an intraday high of Rs 1,659 per share. The market cap of the company rose to Rs 20,734 crore.
Bata India shares rise on investor expectations:
Shares of Bata India surged on Thursday on investors expectations of the company's revenue growth expansions in FY22. Following the company's Q4 results, the CEO of Bata Sandeep Kataria stated that the results were satisfactory for the footwear company. The CEO cited that Bata's Q3 sales are always better compared to Q4 on account of the festive season according to previous results.
Bata India has announced the appointment of Vidhya Srinivasan as Director, Finance and CFO and Whole-time Director of the footwear company for five years, following the retirement of R K Gupta on June 30, 2021.
Bata India March quarter results:
Bata India reported a consolidated net profit of Rs 38.40 crore in Q4 FY20. The footwear company's consolidated net profit decreased to Rs 29.47 crore in the January-March quarter of FY21. On a year-on-year basis, the footwear company's net profit fell 23.3 per cent. For the full year 2020-21, Bata India has reported a net loss of Rs 89.31 crore as compared with a net profit of Rs 32.89 crore in the financial year 2019-20.
The revenue from operations of Bata India was at Rs 620.57 crore in the March quarter of FY20. The footwear company's revenue from operations fell to Rs 589.90 crore in Q4FY21. Revenue from operations fell to Rs 1,708.48 crore for the entire financial year 2021, as compared to Rs 3,056.11 crore in FY20, at a decrease of 44.1 per cent.
Bata India's earnings before interest, taxation, depreciation and amortization during the quarter ended March 31, 2021, fell by 570 bps on year on year basis. The EBITDA fell 6.9 per cent down on a quarter on quarter basis.
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