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Footwear major Bata India Ltd reported a 46.8 per cent increase in its net profit at Rs 30.42 crore for the third quarter this year, on the back of higher sales and profitability. Last year, in the corresponding quarter, Bata had reported a net profit of Rs 20.72 crore.
“Continued expansion plans, an excellent shoe line, improved distribution and our customer centric approach….made this quarter successful,” said Mr Rajeev Gopalakrishnan, Group Managing Director.
Bata reported an increase of 26.8 per cent in its net sales at Rs 369.9 crore against Rs 291.7 crore in the same period last year.
The company opened 106 new large format stores, nine exclusive Hush Puppies outlets and five shop-in-shops in departmental stores during the year. The company plans to open 70 new stores a year and renovate the old ones, a company release said.
The company's scrip closed on the BSE at Rs 724.45 on Monday, up 2.11 per cent from the previous day's close.
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