Hormaz Fatakia
Earnings Reaction: Bata Q1FY21
Revenue down 84.7% to Rs 135.1 crore
Net loss of Rs 100.9 crore from net profit of Rs 101 crore
Ebitda loss of Rs 85.9 crore from Ebitda gain of Rs 243.4 crore
Witnessed a gradual improvement in business once the lockdown was lifted
Prevailing uncertainties have dampened the consumer demand for discretionary spends
Focus on cost controls related to retail stores, factories, rentals & operations and drive efficiencies in its value chain
Shares fell as much as 3% to Rs 1,219. The stock is down for the third straight day and is trading at a four-month low.