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Bata's 1QFY00, net skids 8% - Views on News from Equitymaster
Bata India reported a net profit of Rs 39.6 m for the 1QFY00 depicting a decline of around 8% against Rs 42.9 m in the corresponding previous quarter.
During the above period, the company's net sales increased by mere 0.7% to Rs 1,719 m. A lockout in the Peenya (Karnataka) factory from March 2000 following a strike by Union had an adverse impact on company's financial performance.
At the current market price of Rs 95, Bata India is trading at a P/E of 31 times its 1QFY00 annualised earnings.Its market cap to sales ratio is around 0.7 times. In the past the company has enjoyed the P/E in the range of 45-52 times.
(Rs m)
1QFY99
1QFY00
Change
Sales
1,707
1,719
0.7%
Other Income
3
3
-13.3%
Expenditure
1,596
1,608
0.8%
Operating Profit (EBDIT)
112
111
-0.4%
Operating Profit Margin (%)
6.5%
6.5%
Interest
15
16
4.5%
Depreciation
32
34
6.6%
Profit before Tax
67
64
-5.5%
Tax
25
24
-1.6%
Profit after Tax/(Loss)
43
40
-7.7%
Net profit margin (%)
2.5%
2.3%
Earnings per share*
3.34
3.08
* (annualised)
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