Footwear maker Bata India's Q1 profit rises on one-time gain

Relaxo Footwears

06/08/2024 14:03

BENGALURU, Aug 6 (Reuters) - Footwear maker Bata India  BATA.NS  reported a nearly 63% rise in
first-quarter profit on Tuesday, after four quarters of profit slump, aided by a one-time gain from sale of
property.
    The company, which sells brands such as Hush Puppies and North Star in India, said its consolidated profit
rose to 1.74 billion rupees ($20.7 million) in the three months ended June 30 from 1.07 billion rupees a year
ago.
    Revenue from operations fell marginally to 9.45 billion rupees, while total expenses rose about 6% to 8.78
billion rupees.
    Bata India had a one-time gain of 1.34 billion rupees from sale of property in the June quarter.
    The company declared an interim dividend of 10 rupees per share.
   
    For further highlights, click: (FWN3JT1SS)
    
    
KEY CONTEXT
    Analysts said the footwear industry had to begin end-of-season sales early due to heatwaves and
election-related disruption in the quarter.
    Peer Relaxo Footwears  RLXO.NS  reported a 2.3% fall in its first-quarter profit in late July, while Metro
Brands  METB.NS  has yet to report results.  urn:newsml:reuters.com:*:nFWN3JN155
    
 
PEER COMPARISON

    
                                   Valuation     Estimates (next 12        Analysts' sentiment            
                                   (next 12           months)                                         
                                    months)                                                           
                         RIC      PE    EV/EBI   Revenue     Profit    Mean     # of      Stock to      Div
                                         TDA      growth     growth   rating*  analyst     price       yield
                                                                                  s       target**      (%)
     Bata India        BATA.NS   51.85  21.82      9.83      32.97     Hold      12         1.08        0.77
    Metro Brands       METB.NS   76.73  39.37     17.46      12.05     Hold      17         1.10        0.42
  Relaxo Footwears     RLXO.NS   70.12  36.81     10.56      23.65     Hold      12         1.00        0.37
  Campus Activewear    CAMU.NS   57.26  28.90     14.17      39.88     Hold       7         1.04         -
 
    
* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is
trading above the PT

    
    
APRIL-JUNE STOCK PERFORMANCE  
    
    
    
    
    
-- All data from LSEG IBES

-- $1 = 83.8910 Indian rupees
    
    

($1 = 83.8910 Indian rupees)

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Bata India stock performance    https://tmsnrt.rs/3SDyU2N
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Reporting by Meenakshi Maidas and Yagnoseni Das in Bengaluru; Editing by Mrigank Dhaniwala)
 ((Meenakshi.Maidas@thomsonreuters.com; +91 8921483410;))