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Sunday, Apr 28, 2002

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Bata Q1 net loss up at Rs 4.22 cr

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KOLKATA, April 27

BATA India Ltd has suffered a higher net loss of Rs 4.22 crore during the first quarter ended March 31, compared to the net loss of Rs 3.02 crore recorded during the corresponding period last year.

According to a company release issued here, Bata India's net sales during the period January-March stood at Rs 143.83 crore (Rs 168.36 crore ). The board of directors of the company met here on Saturday to take on record the financial results for the quarter ended March 31.

The release attributes the lower turnover to "depressed market conditions in general, disturbances in the country and discontinuation of supplies of merchandise to erring wholesalers".

The company has chalked out an action plan to reverse the downturn. Steps taken in this regard include implementation of the stores concept, launching new footwear with innovative designs every week at competitive prices, brand promotions and thrust on shoes for students, the release stated.

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