Footwear maker Bata slips after reporting weak December quarter numbers

Bata Share Price: Bata slipped in morning deals on BSE on Friday (February 2, 2024) after the shoemaker reported weak December quarter numbers. 

The stock of the company was down by 1.21 per cent or Rs 17.60 at Rs 1442.00 at 10:58 am on Friday. 

Bata Q3 Results

The company's profit after tax (PAT) for the December quarter slid by 30 per cent to Rs 58 crore from Rs 83 crore Year-on-Year (YoY).

The profit was way below Zee Business research esimates of Rs 110 crore. 

Bata's revenue from operations were flat at Rs 903 crore in the quarter under review from Rs 900 crore in the same quarter last fiscal.

It was below analysts' estimates of Rs 970 crore.

EBITDA also saw a decline of 12 per cent to Rs 182 crore compared to Rs 206 crore, against the estimates of Rs.247 crore.

Bata reported margins of 20 per cent, down from 22.9 per cent in the December quarter last fiscal. Research estimated margins to be 25 per cent.