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Home >Markets >Stock Markets >Bata India shares trade near 52-week high. Here's why

Shares of Bata India were trading near 52-week high at around 1,657 per share on the BSE in Thursday's early deals after the footwear company reported its quarterly earnings on Wednesday. The stock had hit a 52-week high of 1,705 on January 11, 2021.

India's largest shoemaker Bata India Ltd on Wednesday reported a 23.3% fall in consolidated net profit at 29.47 crore for the fourth quarter ended March 31, 2021. The company had posted a net profit of 38.40 crore in the year-ago period. Bata also said that its board has recommended a dividend of 80%, which is 4 per equity share of 5 each for 2020-21.

The company announced dividend of 4 per share for 2020-21 despite posting a 89.3 crore net loss in FY21.

Revenue from operations was down to 589.90 crore during the quarter under review from 620.57 crore in the corresponding quarter Q4FY20, the company said in a regulatory filing.

Commenting on the results, Bata CEO Sandeep Kataria said: “The Q4 results are satisfactory for us, considering Q3 sales have historically been always better because of the festive season.''

“We continued our march towards recovery via our channel expansion efforts via Franchising, distribution and marketplaces routes," he said.

The company also announced appointment of Vidhya Srinivasan as Director Finance and CFO (Key Managerial Personnel) Whole-time Director of the company for five years, as incumbent R K Gupta retires on June 30, 2021.

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