Bata India share price fell over 3% intra day after the firm reported a consolidated net loss of Rs 100.88 crore in the first quarter. Share price of Bata India declined 3.03% to Rs 1,220 against previous close of Rs 1,258 on BSE.
Bata India stock has lost 6.32% in the last 3 days. Bata India share stands lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has lost 13.38% in one year and lost 29.42% since the beginning of this year. In three years, the share has gained 95.38%. Total 2.28 lakh shares were traded amounting to turnover of Rs 28.22 crore on BSE.
Later, the share closed 1.81% lower at Rs 1,235 on BSE. The stock hit a fresh 52-week low of Rs 1,897 on February 7 2020 on BSE. On March 19, 2020, the stock hit a 52 week high of Rs 1017 on BSE.
The shoemaker reported a consolidated net loss of Rs 100.88 crore in Q1 as sales were hit by the coronavirus-related lockdown.
The company reported a net profit of Rs 100.97 crore in the April-June quarter a year ago. Revenue from operations fell 84.69 per cent to Rs 135.07 crore during the quarter under review against Rs 882.75 crore in the corresponding quarter last fiscal.
"Results in the first quarter of FY 2020-21 were severely impacted because of disruptions caused by the ongoing COVID-19 pandemic," said Bata.
Its revenue from operations for the quarter was "lower by 85 per cent compared to the corresponding period last year due to the lockdown in April and May followed by a graded unlocking across the country and, consequently, the company incurred a loss after tax of Rs 101 crore as against profit after tax of Rs 100 crore in the corresponding period last year."
Bata India's total expenses fell to Rs 321.85 crore in June quarter against Rs 743.81 crore in Q1 of previous fiscal.