Bata India’s Net Profit Improves By 17% In September 2013 Quarter
DSIJ Intelligence / 30 Oct 2013
Bata India performance rises in Q3CY13. Improvement was witnessed in both topline and bottomline, although expenses rose.
Bata India posted its Q3CY13 results today (October 30,2013). The topline of the company grew by 14% and stood at Rs 484 crore in Q3CY13 as against Rs 424 crore in Q3CY12. The bottomline of the company witnessed remarkable growth of 17% to Rs 38 crore on YoY basis.
The company’s expenses grew by 13% to Rs 436 crore in Q3CY13 as compared to Rs 385 crore in Q3CY12. Raw material cost, employee benefits, rent and other expenses have risen by 23%, 15%, 13% and 12% respectively on YoY basis.
On yearly basis, EBITDA for the company surged by 24% to Rs 63 crore from Rs 51 crore while the EBITDA margin improved by 100 basis points to 13.01% from 12.01%.
During this quarter company has opened largest store in India at Viviana Mall, Thane. The store is spread over 20000 Sqft (Square Feet) and is flourished with variety of footwear and accessories. The company has improved its product line with new autumn-winter collection at its stores. Moreover, company is looking to expand its presence by opening around 100 new stores in 2013.
On YTD basis stock of Bata India is trading at Rs 883.15 with TTM price to earnings ratio of 30x. Moreover, festive season ahead would enhance its revenue. Hence, we expect Bata to do well in near future.
*Company follows calendar year as their fiscal year.
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