Bata India Ltd's Q3FY19 standalone net profit rises 51.4% yoy to Rs103.18cr: Beats Estimates

The company’s standalone revenue in the quarter stood at Rs778.7cr, up 15.5% yoy and 15.7% qoq.

Feb 12, 2019 05:02 IST India Infoline Research Team

Bata India Ltd Q3FY19

Standalone Results Q3FY19: (in cr)

Q3FY19 YoY (%)
Revenue 778.70 15.5
EBITDA 163.63 46.8
EBITDA Margin (%) 21 447
Net Profit (adjusted) 103.18 51.4
***EBITDA margin change is bps

Bata India Ltd’s revenue for Q3FY19 came in at Rs779cr, up 15.5% yoy and 15.7% qoq. EBITDA for the quarter came in at Rs163.63cr, up 46.8% yoy and 87.3% qoq. The company's EBITDA margin expanded 447bps yoy and 804bps qoq to 21%. The adjusted net profit for the quarter stood at Rs103.18cr, up 51.4% yoy and 85.4% qoq, and was above the estimates of Rs83cr.

• Buoyed by robust festive sales, well-received consumer campaigns, and the expansion of 50 new red-concept stores, Bata India reported 15.5% revenue growth.
• EBITDA margin expansion is on the back of strong cost controls as the cost of goods sold stood at 41.4% of sales vs 44.9% yoy.
• Rentals and other expenses stood at 12.5% and 14.4% of sales, respectively, compared to 13.3% and 14.9% of sales yoy. This aided in profitability expansion.
• Employee benefit expenses grew 19.7% yoy to Rs83cr.
• Tax rate for the quarter stood at 35.3% vs 35.9% yoy.

Technical View:

Bata India Ltd ended at Rs1,189, up 2.35 points, or 0.2%, from its previous close of Rs1,186.65 on the BSE. The scrip opened at Rs1,204 and touched a high and low of Rs1,205.30 and Rs1,183.10, respectively. A total of 13,56,154 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50-DMA.

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