Bata India shares jumped on Thursday after the footwear retailer reported an operationally positive set of quarterly financial results. The Bata India stock gained by as much as Rs 56.1, or 3.6 per cent, to Rs 1,612.7 apiece on BSE before giving up some of those intraday gains.  

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At 11 am, the footwear maker’s stock was left with a gain of 0.9 per cent at Rs 1,570.4 apiece on the bourse.  

Here’s how the retailer performed in the quarter ended September 30, 2023 (Q2 FY24):  

After market hours on Wednesday, Bata India reported a consolidated net profit of Rs 34 crore for the July-September period, down 38 per cent compared with the corresponding period a year ago. The earnings included an exceptional expense of Rs 41 crore related to a voluntary retirement scheme (VRS) . 

 Its revenue declined to Rs 819 crore for the second quarter of the current financial year, from Rs 830 crore for the year-ago period, according to a regulatory filing.  

 The company’s earnings before interest, taxes, depreciation and amortistaion (EBITDA) were up 12 per cent on a year-on-year basis at Rs 182 crore, and margin, a key measure of profitability, improved by 270 basis points to 22.1 per cent.  

While the company’s top-line and bottom-line fell short of analysts’ estimates, its EBITDA and margin exceeded their expectations. 
According to Zee Business research, Bata India’s quarterly net profit was estimated at Rs 62 crore, revenue at Rs 860 crore, EBITDA at Rs 180 crore, and margin at 21 per cent.  

The company reported aggressive network expansion during the quarter under review, with the opening of 30 stores in close to 25 cities.