New Delhi : Footwear major Bata India reported a 48.3% jump in net profit at Rs 58.43 crore for the quarter ended March, mainly boosted by gains from exceptional items. Net sales, however, declined to Rs 491.00 crore.
During the period under review, the company had a gain of Rs 23.91 crore related to part receipt of constructed space from an erstwhile joint venture and also partial write back of provision no longer required for meeting obligations relating to property development amounting to Rs 9.3 crore.
Bata India Group MD Rajeev Gopalakrishnan said during the quarter the company’s 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. Bata India said its board has announced a split of face value of equity shares of the company from one share of Rs 10 each to two shares of Rs 5 each.
