Bata India shares decline over 2 pc after Q3 earning

Shares of Bata India on Thursday dipped over 2 per cent after the company reported 77.66 per cent decline in its consolidated net profit for the quarter ended December 2020.

Its stock dipped 2.42 per cent to close at Rs 1,531.50 on the BSE. During the day, it declined 6.83 per cent to Rs 1,462.20.

On the NSE, it closed at Rs 1,528, lower by 2.62 per cent.

Leading footwear brand Bata India has reported 77.66 per cent decline in its consolidated net profit to Rs 26.41 crore for the quarter ended December 2020, on account of lower revenue from operations.

The company had net profit of Rs 118.26 crore in the year-ago period.

Revenue from operations of the company stood at Rs 615.62 crore for the quarter under consideration, down 25.90 per cent, against Rs 830.82 crore for the same period a year ago, Bata India said in a filing to BSE.