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Footwear retail chain Bata has reported a 58.22 per cent rise in its net profit at Rs 40.98 crore for the second quarter ended June 30, 2011, against the corresponding period a year ago.
The company had a net profit of Rs 25.90 crore in the quarter ended June 30, 2010.
The net sales stood at Rs 429.36 crore, registering a 22.64 per cent rise in the current quarter, compared to Rs 350.08 crore posted in the corresponding quarter a year ago.
“The increased profitability is the result of improved sales and margin from our shoe line and continued growth from both of our retail and non retail businesses,” Bata India Managing Director Marcelo Villagran said in a statement.
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