 "Bata Q4 results: Net profit declines 3% to Rs 63.65 cr as expenses surge")
Footwear maker Bata India reported a 3% fall in its fourth-quarter profit on Wednesday, its fourth straight quarterly profit drop, on higher expenses and soft demand.
The company, which also sells brands such as Hush Puppies and North Star in India, said its consolidated profit fell to Rs 63.65 crore ($7.6 million)in the three months ended March 31 from Rs 65.62 crore a year ago.
Revenue from operations rose 2.5% to Rs 798 crore.
Its total expenses rose over 5% to Rs 737 crore.
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In response to sluggish volume growth, Indian footwear retailers have been offering substantial discounts, which have weighed on their revenue.
Nevertheless, premium products aimed at affluent consumers have been seeing steady demand.
Rival Metro Brands had reported a bigger-than-expected rise in fourth-quarter profit last week, driven by sales of high-end footwear.