Bata India's shares have broken a 6 day long jinx. Know how

Shares of Bata India Ltd., the nation's top shoe maker, snapped a 6-day rally after the company reported a drop in its quarterly earnings that were aided by an exceptional income.

Bata said its first quarter Net Profit leapt 55 percent to 92.2 crore rupees compared with 59.4 crore rupees in the same quarter a year ago. Bata reported an exceptional item of 43 crore rupees. Hence, its Q1 PAT would be 49 crores, down 17 percent on year, if that exceptional item were removed from the earnings.

Bata's sales during April-June rose 9.3 percent to 680 crore rupees from 622 crore rupees in the year ago period.

Bata fell 45.20 rupees, or 3.7 percent, to 1,167 rupees on the National Stock Exchange, where 2.80 lakh shares were traded by 9:55 am compared with the 5-day average of 2.24 lakh shares.

Bata 's market capitalisation remained flat in the past one year to 7,870 crore rupees.

Image credit: Indiatimes