Shares of leading shoemaker rose 3 percent in intra-day deals on the BSE on Thursday after the firm posted its results for the quarter ended March 2024 (Q4FY24). The stock rose 3 percent to its day's high of 1,415. It is now 20 percent away from its 52-week high of 1,770.
10, hit on August 7, 2023. Meanwhile, it has advanced over 9 percent from its 52-week low of 1,293.65, hit on May 13, 2024.
It has lost almost 13 percent in the last one year and over 14 percent in 2024 YTD. It has risen 3 percent in May after a 0.3 percent rise in April.
However, the stock was in the red in the first 3 months of the year, down 3.3 percent in March, 5.4 percent in February and 9.
8 percent in January. Bata India reported a 3.02 percent decline in consolidated net profit, amounting to 63.
64 crore, for the fourth quarter ending March 2024. However, the company's revenue from operations saw a 2.47 percent increase, reaching 797.
87 crore during the quarter, compared to 778.58 crore in the same period the previous year. Total expenses for Bata India in the March quarter rose by 5.
22 percent, totaling 736.83 crore. The Board also recommended a dividend of 12 per fully paid-up 5 equity share for the financial year ending March 31, 2024.
This is subject to shareholder approval at the upcoming annual general meeting (AGM). Commenting on the performance, MD and CEO Gunjan Shah said, "Bata India navigated well through the unforeseen sluggishness in the market driving towards sustainable growth led by bra.
