Bata: Bata India announces its fourth quarter results; Bata India announces fourth quarter results

Bata: Bata India announces its fourth quarter results; Bata India announces fourth quarter results

Highlights:

  • Bata India is one of the largest footwear companies in the country.
  • Despite the fall in profits, the shares of Bata saw a rise on Thursday.
  • The board of Bata India has recommended 80 per cent dividend.

New Delhi
Bata India announced the results for the fourth quarter of the financial year 2020-21 on Wednesday. During this period, the consolidated profit of the company fell 23.3 percent to Rs 29.47 crore. The company had made a profit of Rs 38.40 crore in the fourth quarter of the financial year 2019-20. Despite the fall in profits, the company’s stock saw a good rally on Thursday. Bata India is one of the largest footwear manufacturers in the country.

In the fourth quarter of the financial year 2020-21, the revenue of Bata India from operations declined to Rs 589.90 crore. The company had earned a revenue of Rs 620.57 crore in the same period a year ago. Sandeep Kataria, CEO, Bata India said, “Quarter Q4 results are satisfactory for us. This is because Q3 results are always better due to festive season.”

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“We are on a recovery path through efforts to expand the channel. These include the franchise, distribution and marketplace routes,” he added. The company’s total expenses in the March quarter stood at Rs 563.90 crore, which is 2.69 per cent lower than the March quarter of the financial year 2019-20.

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The board of Bata India has recommended 80 per cent dividend. Investors will get a dividend of Rs 4 for every Rs 5 face value share. On Thursday, Bata Idea’s stock saw a rise on Thursday due to better-than-expected results. At around 11:21 in the day, the share price of Bata India was trading at Rs 1,626 with a jump of 4.36 percent on the NSE.

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