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Bata India with 4.1% fall in net profit

Sep 4, 2014 India
Bata India with 4.1% fall in net profit
Net sales during the quarter ended June 2014 rose 8.6% to 78.23 million euros from 72.01 million euros a year ago. Profit stood at 7.47 million euros, down by 4.1%
Bata India, India’s leading footwear retailer and manufacturer, announced financial results for the second quarter with revenue growing to 78.23 million euros, an 8.6% increase over the same period last year. Operating profit stood at 10.29 million, and net profit has declined by 4.1%, standing at 7.47 million euros.

Mr. Rajeev Gopalakrishnan, Group Managing Director, Bata Emerging Markets commented: “The aggressive retail expansion and renovation of stores, aspirational designs and addition of a wider range of accessories like bags, sunglasses, belts to our product portfolio, the expectation is to increase this growth momentum on the back of increase in consumer confidence level as we move through the year.”

Bata has introduced a new city format stores which, according to the group are “more inviting and helps an easy navigation for the customers. The new stores have an enhanced lighting with accurate space allocation of the brands within the stores. Further to that, the retail training has been the key initiative to improve customer service and provide a delightful shopping experience within the store”.

Bata India recently announced an expansion plan that comprises the opening of around 100 stores in the next 12-18 months in rural areas, particularly tier III and IV cities, under a franchise model.

Early in the month of August the group also announce the decision to merge its two wholly-owned subsidiaries - Bata Properties Ltd and Coastal Commercial & Exim Ltd - with itself.

Bata India shares were last traded at the Bombay Stock Exchange Ltd at 16.54 euros on the 3rd of September.

Note - Bata India announces posts its results in Indian Rupees; Exchange rate INR / Eur as published by the European Central Bank on the 3rd of September has been used (INR/EUR 79.4518)

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