 "Bata India Q3 net profit rises 15% to Rs 118.26 cr, revenue at Rs 830.82 cr")
Leading footwear brand Bata India on Thursday reported a 14.75 per cent rise in its consolidated net profit to Rs 118.26 crore for the quarter ended December 2019 compared to Rs 103.05 crore in the year-ago period.
Consolidated revenue from operations of the company stood at Rs 830.82 crore for the quarter under consideration against Rs 779.79 crore for the same period year ago, Bata India said in a filing to BSE.
"Despite market headwinds and a pan-India cross-sectoral drop in consumer spending, Bata managed stable growth in Q3 2019-2020, improving its margins and EBIDTA," Bata India CEO Sandeep Kataria said.
These results were due to company's continued focus on customer-centric portfolio including the new sneakers range, innovations in areas of comfort, design and materials, channel expansion in distribution business, modern trade and franchisee business, he added.
"While new stores, renovations continued to elevate the store visual merchandising and consumer experience, we also focused on making operations more agile by investing in IT for the new age," Kataria said.
Shares of Bata India closed at Rs 1,853.25 on BSE, down 0.99 per cent from the previous close.