Bata India ill-fitting shoes
By
Research Desk
about 9 years ago
Bata India remains the top loser on the BSE since morning. Hitting an intra day low at Rs.520.55, down 6% over yesterday’s close of Rs.526.25.
The stock is down as the market is not happy with the company’s performance for Q1FY17. The company reported a sharp 44% (YoY) drop in its net profit at Rs.50 crore. This was on an almost staid total income of Rs.675 crore, up just 1.5%. EBITDA for the quarter was down 1.% at Rs.82 crore and margins remained status quo at 12.2%.