Bata India reports 6.8% jump in net profit in Q1

KOLKATA: Leading footwear maker and retailer, Bata India reported 6.8% jump in its net profit at Rs 38.46 crore for the first quarter ending March 31, 2013, on back of 11.9% jump in net sales at Rs 453.63 crore.

Bata India said the company's performance has been commendable considering the economic slowdown with the company growing by double digit.

Rajeev Gopalakrishnan, group managing director at Bata India, said the company undertook various initiatives to continue its foothold in such a volatile market condition.

""Our strategy of expanding retail footprint continued with improvised merchandise and better designs. We expect the market condition will become better which would translate into higher growth in the next few quarters,"" Gopalakrishnan said.

The Bata India stock fell by 3.51% on the Bombay Stock Exchange on Thursday to close at Rs 704.75.

Bata India continued its strategy of expanding its retail stores and has opened and relocated 22 new stores in the first quarter of 2013. These new stores are based on the new large format above 3,000 sq.ft. and are spread across the metros and smaller cities.

The company during the quarter opened three exclusive Hush Puppies stores and seven shop-in-shops in leading department stores in the same period.