Bata revenue plunged to Rs 367.9 crore from Rs 722 crore YoY,Share price falls 3%

Bata revenue plunged to Rs 367.9 crore from Rs 722 crore YoY,Share price falls 3%

Bata India share price shed 3 percent in the early trade on November 11, a day after the company reported loss in the quarter ended September 2020.

The company reported loss at Rs 44.3 crore in Q2FY21 against profit at Rs 71.3 crore, however its revenue plunged to Rs 367.9 crore from Rs 722 crore YoY.

It has revised FY21E and FY22E EPS estimates at Rs 1.5 and Rs 20.1, respectively and introduced FY23E at Rs 25.