Bata India Q1 net profit jumps 23 percent to Rs 101 crore
Footwear major Bata India Ltd reported a 23 percent rise in its net profit at Rs 101 crore ($14.5 million) for the first quarter ended June 2019, as against a profit of Rs 82 crore it had reported during the corresponding quarter last fiscal.
The company’s revenue for the April-June quarter jumped 11 percent to Rs 883 crore, from Rs 798 crore it had reported in the corresponding quarter last year.
Bata's total expenses rose 9 percent to Rs 744 crore from Rs 682 crore last year.
"Bata India has had a good start to the year with 11% increase in the turnover and 22% in profit before tax over the last year. While working on our annual strategy, we have laid extensive emphasis on product innovation followed by the revised retail proposition in line with the global imagery and premiumization of the brand,” Sandeep Kataria, chief executive officer at Bata India said in a statement.
“Apart from marketing and sales initiatives driving topline, cost-saving measures have yielded results in improving the bottom line and leveraging economies of scale. Technology and innovation will continue to be the driving forces for the coming quarter coupled with industry-first practices to ensure customer delight at every level,” Kataria added.
Bata currently retails in over 1,300 Bata stores, on its website and in thousands of multi-brand footwear dealer stores pan-India.
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