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Bata India reports 4.1% drop in net profit
September 8, 2014
India’s leading footwear retailer and manufacturer, Bata India, announced its second quarter financial results with revenue growing to 78.23 million euros, an 8.6% increase over the same period last year. Despite operating profit standing at 10.29 million euros, overall net profit has declined by 4.1%, standing at 7.47 million euros.
Speaking to worldfootwear.com, Mr. Rajeev Gopalakrishnan, Group Managing Director, Bata Emerging Markets commented: “(with) the aggressive retail expansion and renovation of stores, aspirational designs and addition of a wider range of accessories like bags, sunglasses, belts to our product portfolio, the expectation is to increase this growth momentum on the back of increase in consumer confidence level as we move through the year.”
Bata recently introduced a new ‘city format’ store which, according to the group is “more inviting and helps an easy navigation for the customers. The new stores have an enhanced lighting with accurate space allocation of the brands within the stores. Further to that, the retail training has been the key initiative to improve customer service and provide a delightful shopping experience within the store”.
Bata India recently announced an expansion plan that comprises the opening of around 100 franchise model stores in the next 12-18 months in rural areas, Shares in the company were last traded at the Bombay Stock Exchange Ltd at 16.54 euros on the 3rd of September, 2014.
Note - Bata India posts its results in Indian Rupees; Exchange rate INR / Eur as published by the European Central Bank on the 3rd of September has been used (INR/EUR 79.4518)