Bata India announced a substantial rise in standalone net profit for the quarter ended March 2015. During the quarter, the profit of the company rose 48.30% to Rs 584.38 million from Rs 394.04 million in the same quarter previous year.
Revenues for the quarter declined marginally 0.83% to Rs 4,910.00 million, compared with Rs 4,951.20 million for the prior year period.
Rajeev Gopalakrishnan, group managing director, Bata India said, ''Our Q5 performance continued to be impacted by supply chain related issues. However, we are on a recovery path with gradual improvement in supply chain, new store openings and emphasis on customer service. The product catalogue has also diversified with an expansion in the accessories category''.
''The company plans to invest behind various activities like development of new channels and stores to address the growing consumer demand & preferences. The last quarter saw an opening of more than 38 stores and we intend to open more stores in the coming quarters.''
''We have already made many new enhancements in our catalogue to make the brand as one stop shop for our consumers. The objective is to offer our customers a complete footwear solution for all looks and occasions like corporate, casual, evening, party and holiday wear. The launch of the Summer 2015 range incorporates the latest trends in footwear and accessories design.''
Quarterly Results - Standalone (Rs in mn) |
As at | Mar - 15 | Mar - 14 | %Change |
Revenues | 4,910.00 | 4,951.20 | (0.83) |
Net Profit | 584.38 | 394.04 | 48.30 |
Diluted EPS | NA | NA | |
Shares of the company gained Rs 16.45, or 1.59%, to trade at Rs 1,053.75. The total volume of shares traded was 16,843 at the BSE (10.00 a.m., Thursday).