Bata India reports Rs 69 crore net loss for Q1; revenue rises 98%

During the quarter, its cost of materials consumed jumped 189 times to Rs 33.2 crore but a deduction due to its inventory positions, kept losses in control.

Cutting down on its losses over the last year, footwear major Bata India today reported a Rs 69.5 crore net loss for the April-June quarter. In the corresponding quarter previous year, the firm had posted Rs 101 crore net loss. 

The firm’s operating revenue grew 98 percent to Rs 267 crore on a low base of Rs 135 crore that it has reported in the year ago period. However, Bata’s toppling and bottomline suffered significantly when compared to the previous quarter. While, its operating revenue plunged 55 percent from Rs 590 crore that it had posted in the March quarter,