Bata India Ltd Q2FY17
Standalone Results Q2FY17: (Rs. in crore)
|EBITDA Margin (%)||9.2||81|
|Net Profit (adjusted)||34.59||[23.2]|
Bata India’s standalone Q2FY17 result came in mixed from Bloomberg estimates. Revenue came in 6.1% lower than the estimate of Rs 621.4 cr. EBITDA too dropped 9.3% from the estimated figure of Rs 59 cr. However, net profit was 2% higher than the estimated figure of Rs 34 cr.
Revenue for the quarter stood at Rs 583.75 cr, which is more or less in line with the corresponding quarter of previous year. During the quarter company launched Bata European collection and entered into women’s festive segment.
EBITDA increased by 11.4% yoy to Rs 53.52 cr and EBITDA margins expanded by 81 bps to 9.2%. This was driven by 20% yoy drop in raw material costs.
Adjusted net profit however, declined by 23.2% yoy to Rs 34.59 cr. This was partially driven by increase in company’s finance costs by 125% yoy.
Bata India Ltd is currently trading at Rs. 413.8, up by 10 points or 2.48% from its previous closing of Rs. 403.8 on the BSE.
The scrip opened at Rs. 404.2 and has touched a high and low of Rs. 418.35 and Rs. 400 respectively. So far 1159764(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
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