Bata India Q4 profit up 27% to Rs 36 crore

Footwear major Bata India on Monday reported 27 per cent increase in net profit to Rs 35.9 crore for the fourth quarter (Q) ended March 31 of the last financial year (FY).

It had posted Rs 28.2 crore net profit for the January- March period of FY16.

Net sales went up by 6 per cent to Rs 598 crore for Q4 of FY17 as against Rs 563.6 crore in the year-ago period, Bata India said in a BSE filing.

"This year, we will be following our strategy of driving store growth in both urban and tier II markets, apart from launching new collections in women and youth categories," said Rajeev Gopalakrishnan, President-South Asia, Bata Emerging Markets.

In a separate filing, Bata informed that its board in a meeting on Monday has recommended a final dividend of Rs 3.5 per share on an equity share of par value of Rs 5 for the year ended March 31, 2017.

Shares of Bata on Monday settled 1.25 per cent up at Rs 575.15 on BSE.