Bata India slips to nearly 6-month low on Q2 profit miss
05/11/2024 04:03
** Shares of Bata India BATA.NS fall as much as 2.7% to
1,300.1 rupees, lowest since May 9
** Footwear maker posts smaller-than-expected Q2 profit,
hurt by poor demand amid high inflation
** Reports 2.2% rise in rev to 8.37 bln rupees ($99.5 mln),
lower than the 8.47 bln rupees expected by analysts - LSEG
** Stock rated "hold" on avg; median PT is 1,420 rupees
** BATA down 22% YTD
($1 = 84.1150 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru)
((AshnaTeresa.Britto@thomsonreuters.com))