Bata India Shares Rise On Q4 Beat
The company's net profit rose 4.22% over a year earlier to Rs 65.6 crore in the three months ended March.
Shares of Bata India Ltd. rose the most in 10 months on Friday before paring some of the gains after the company's net profit for the fourth quarter of fiscal 2023 beat estimates.
The company's net profit rose 4.22% over a year earlier to Rs 65.6 crore in the three months ended March, according to its exchange filing. The average of analyst estimates tracked by Bloomberg pegged the profit at Rs 52.46 crore.
Bata India Q4 FY23 (Consolidated, Year-On-Year)
Revenue up 17% at Rs 778.6 crore against an estimate of Rs 774.2 crore.
Ebitda rose 12.3% to Rs 182.1 crore versus an estimated Rs 163.5 crore.
Ebitda margin at 23.38% versus 24.37%; the analysts had forecast 21.1%.
Net profit is up 4.2% at Rs 65.62 crore against an estimate of Rs 52.5 crore.
The board declared a final dividend of Rs 13.50 per share.
Shares of Bata India rose as much as 4.64% intraday before paring gains to trade 0.24% higher at 1:05 p.m. compared to a flat NSE Nifty 50.
Of the 20 analysts tracking the company, 13 maintain a 'buy', five suggest a 'hold', and two have a 'sell' rating, according to Bloomberg data. The average of 12-month price targets implies a potential upside of 10.2%.