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Bata profit grows 5%

Calcutta, Oct. 31: Footwear retailer Bata India Limited has registered a 5.32 per cent growth in net profit in the third quarter ended September 30, 2012. Profit after tax for the quarter stood at Rs 32.04 crore against Rs 30.42 crore in the same period a year ago.

Net sales for the quarter grew 15 per cent to Rs 429.05 crore from Rs 372.43 crore in the same period a year ago. However, sales for the second quarter were lower than the first quarter ended June 30 at Rs 503.33 crore.

Rajeev Gopalakrishnan, group managing director of Bata India, said, “The consistent growth in our retail and non-retail businesses has made the quarter successful for the company. We will continue our focus to expand the retail outlets and improve the merchandise with newer and better designs to provide Indian consumers the best in footwear.”

During the quarter, the company opened 33 Bata stores across metros, tier 1 and tier 2 cities. It launched Sundrops, a premium range of footwear for women during the quarter.

The company also opened three exclusive stores for its premium brand Hush Puppies, besides one Footin store.

Bata has over 1,250 stores in over 500 cities.

For the first nine months ended September 30, the company recorded a lower net profit at Rs 120.69 crore compared with Rs 180.78 crore in the same period a year ago.

Net sales for the nine months stood at Rs 1,343.57 crore against Rs 1,117.17 crore.

The Bata scrip was down 3.38 per cent to Rs 855.15 on the Bombay Stock Exchange today.

 
 
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