Bata India’s second quarter results announced: profit increased by 52.91% year-on-year

Bata India’s second quarter results live broadcast: Bata India announced its second quarter results on November 4, 2024, with profits increasing significantly by 52.91% year-on-year. The company’s revenue also increased 2.2% compared with the same period last year. However, compared with the previous quarter, revenue dropped by 11.38%, and profit dropped significantly by 70.14%.

In terms of expenses, selling, general and administrative costs decreased by 5.79% month-on-month, but increased by 7.55% year-on-year. Although overall revenue fell, lower expenses likely helped improve margins.

Bata India’s operating income fell by 13.67% month-on-month, but still increased by 42.91% year-on-year. Second quarter earnings per share (EPS) was $4.04, down 18.91% from the same period last year.

Looking at stock performance, Bata India returned -2.66% last week and 0.38% over the past six months, but has returned -19.07% year-to-date. This mixed performance could affect investor sentiment.

Currently, Bata India’s market capitalization is $17176.42 Crores, a new 52-week high $1724.25 and lowest price $1269. Of the 19 analysts covering the company as of November 5, 2024, opinions are mixed: 1 analyst rates it a Strong Sell, 7 rate it a Sell, and 7 rate it a Sell. Rated a Hold, 2 analysts rate it a Buy, and 2 rate it a Strong Buy.

As of November 5, 2024, the consensus recommendation is a Hold, suggesting analysts are cautious about Bata India’s near-term performance prospects.