Wednesday, 24 April 2013

Bata India shares fall on fears earnings may miss estimates

Bata India Ltd shares fell 3 per cent on fears that its Jan-March net profit may come below Rs 350 million versus market expectation of Rs 400 million, two institutional dealers said.

Bata is scheduled to announce its Jan-March earnings results on Thursday.

Weak revenue growth accompanied by high lease rentals may put pressure on Bata's margins by 0.76 per cent, brokerage Nirmal Bang said in a report dated April 9.

Due to lower revenue growth and pressure on margins, Bata's Jan-March net profit is likely to grow 7.7 per cent to Rs 388 million, the research report added.


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