Footwear manufacturer and retailer Bata India today registered a 57.68 per cent increase in net profit for the quarter ended September 30, 2010, at Rs 20.72 crore, as against to Rs 13.14 crore in the corresponding period last fiscal.
The company's net sales during the three-month period grew 12.04 per cent to Rs 291.78 crore, as against Rs 260.42 crore in the same period last year, Bata said in a filing to the Bombay Stock Exchange (BSE).
"We have been delivering the best results quarter-on-quarter and are well on our way to make this the most profitable year for Bata India," Managing Director Marcelo Villagran said in a statement.
For the nine-month period ended September 30, Bata's net profit grew 45.74 per cent at Rs 60.95 crore, as compared to Rs 41.82 crore in the same period last year.
The company's net sales for the nine month period rose 12.33 per cent at Rs 901.00 crore, as against Rs 802.08 crore in the same period last year. Bata expanded operations by opening 71 large format stores across metros and smaller cities.
The firm's scrips closed at Rs 337.50 per share with a low of 0.13 per cent, as compared to the previous close on the BSE today.