Footwear major Bata on Wednesday reported a net profit of Rs 34 crore for the quarter ended September 30, a decline of 38 per cent from Rs 54.8 crore from a year ago amid demand headwinds.
Revenue from operations stood at Rs 819 crore, down 1.3 per cent from Rs 829.7 crore a year ago.
The company said it has expanded aggressively, opening 30 stores in close to 25 cities with franchise and shop-in-shop network consisting over 39 per cent of these stores. Around 54 stores were renovated during the quarter.
The company has initiated a VRS and has booked an exceptional item of Rs 40.9 crore.
Gunjan Shah, MD and CEO, Bata India Limited, said prudent expansion of retail network and marketing investments remain a key strategy for the company.
“We remain focused on cost efficiency across all operations, including manufacturing facilities and optimising our resources. In line with our strategy of sustainable profitable growth, we continue to expand across tiers in a capital efficient manner, digital channels and make investments in customer experience and brand marketing,” said Shah.
Balmer Lawrie profit
Balmer Lawrie on Wednesday reported a net profit of Rs 55.38 crore for the second quarter ended September 30. Net profit in the corresponding previous period was Rs 26.10 crore.
Total income stood at Rs 598 crore against Rs 561 crore a year ago.
Tata Power net up 9%
Tata Power on Wednesday posted a 9 per cent rise in its consolidated net profit at Rs 1,017.41 crore in the September quarter, mainly on the back of higher revenues from core business. Net profit was Rs 935.18 crore a year ago.
