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Bata slips, net dips to Rs 53 lakh

July 31: Bata India has registered a 74.7 per cent decline in net profit to Rs 53 lakh for the second quarter ending June 30, this year as against Rs 2.1 crore in the corresponding period last year.

The net sales of the shoe-major in the reporting quarter stands at Rs 200.4 crore as against Rs 205.8 crore in the corresponding previous period.

Gross sales of the company has also shown a downward trend to Rs 208.3 crore as against Rs 215 crore in the previous financial year.

Profit before tax is to the tune of Rs 33 lakh as against Rs 1.4 crore last year.

Bata, which is facing fierce competition from regional and local players, has drawn up a strategy to categorise its stores according to the requirements of the customers and to launch new products every week to tide over the crisis.

Hind Motor loss

Hindustan Motors, the C. K. Birla-controlled automobile manufacturing company has registered a net loss of Rs 14.38 crore in the first quarter ended June 30 this year as against a net profit of Rs 86 lakh in the previous year.

The net sales of the company has also dropped to Rs 161.31 crore compared with Rs 234.53 crore in the corresponding period of the previous year.

The automobile segment has generated a revenue of Rs 146.73 crore and the auto-transmission segment has generated a revenue of Rs 14.58 crore.

The interest burden of the company in the first quarter is Rs 13.63 crore.

Kotak Mahindra Bank

Kotak Mahindra Bank has posted a consolidated net profit of Rs 29.02 crore in the first quarter ended June 30, 2003, compared with Rs 9.94 crore in the same period last year. Total income rose to Rs 213.84 crore during the quarter under review, as against Rs 142.64 crore in the corresponding previous quarter, the company stated in a release.

On a standalone basis, the bank posted a net profit of Rs 19.34 crore during the reporting quarter, compared with Rs 11.72 crore posted during the first quarter of last financial year, it said.

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