Bata India Down 4% on Q1 Miss

Bata India shares fell over 4 per cent to Rs 1,200 on Wednesday as the company's June quarter earnings were below estimates.

Its net profit declined 4 per cent year-on-year (y-o-y) to Rs 59.3 crore whereas its revenue grew nearly 9 per cent y-o-y to Rs 621.6 crore in the first quarter on FY15.

Analysts polled by NDTV had estimated its net profit at Rs 71.3 crore on sales of Rs 644 crore.

Its ebitda remained flat at Rs 96.7 crore for the reporting period whereas its ebitda margin fell 120 basis points y-o-y to 15.6 percent.

As of 10.07 a.m. Bata India shares were trading 1.82 per cent lower at Rs 1,230.40 as compared to 0.17 per cent fall in Nifty.