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Bata India Ltd will now follow financial year for accounting purposes.
The company at its meeting held on November 5 has decided to change the financial year of the company from January-December to April-March pursuant to the provisions of Section 2(41) of the Companies Act, 2013.
Accordingly, the current financial year of the company shall be extended up to March 31, 2015.
According to a notification to the bourses, the company said: “The current financial year shall be extended up to March 31, 2015, covering a period of 15 months commencing from January 1, 2014.”
Bata maintained that the company shall not publish its audited financial results for the year ended December 31 on or before February 28 and its audited financial results for the 15-month period (January 1, 2014 to March 31, 2015) on or before May 30, 2015.
The company has also decided to shift its registered office to 27B Camac Street in Kolkata from the existing 6A SN Banerjee Road.
Meanwhile, Bata India reported a marginal 2.63 per cent rise in standalone net profit to Rs 39 crore for the quarter ended September 30, 2014.
Net profit for the corresponding period last year stood at Rs 38 crore.
During the period under review, net sales increased by 13 per cent to Rs 548 crore against Rs 484 crore during the corresponding period last year.
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