Bata India Q4 net soars 35.39%; stock up

KOLKATA: Riding on the retail boom, shoe major Bata India has clocked a 35.39% rise in net profit in Q4 of calendar 2010. The net profit soared to Rs 34.39 crore in Q4 of CY10 as compared to Rs 25.40 crore in the corresponding period of the previous year. The net sales of the company has shown a 23.5% growth to Rs 355.85 crore as compared to Rs 288.09 crore in Q4 of CY09.

At 9:45 am, shares of the company were trading 1.03% up at Rs 352.25 on the Bombay Stock Exchange.

The profit-before-tax (PBT) of the company in Q4 of CY10 has gone up by 42.6% to Rs 142.99 crore against Rs 100.26 crore in the same period last year.

For the entire CY10, Bata India’s net profit has soared to Rs 95.35 crore — growth of 41.84% over the previous year. The net sales of the company in CY10 went up by 14.41% to Rs 1,256.85 crore from Rs 1,090.17 crore in CY09.

Bata India attributes this growth to the new retail strategy adopted by the company. Bata India Group Managing Director Marcelo Villagran said: “During 2010, we opened 108 stores, each with an area of more than 3,000 sq ft. With separate defined sections, offering hundreds of designs for men, ladies, children and youth, the new Bata stores offer a whole new experience to consumers. Made as per Bata's global design, the new stores use the latest retail designs and best quality furniture that enhance the store's layout and provide for an attractive product display.”