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Footwear manufacturer and retailer Bata India has reported a 67 per cent fall in its net profit for the first quarter of fiscal 2012-13. The net profit stood at Rs 35.99 crore in the quarter against Rs 109.36 crore for the corresponding period a year ago. Bata follows the January-December fiscal. Net sales stood at Rs 408 crore for the first quarter compared to Rs 437.91 in the same period last year. Last year, the company had made a net gain of Rs 83.77 crore following the sale of surplus property, Bata said in a statement.
Bata India sells brands such as Hush Puppies, Scholl, North Star, Power, Marie Claire and Bubbleg. Mr Rajeev Gopalakrishnan, Group Managing Director, said, “With an increase in the number of pairs sold, the first quarter of 2012 began on a promising note. We have continued on our strategy of expanding our retail foot print, improving our merchandising and coming up with newer & better designs. We also continue to focus on our product quality and comfort”.
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