Bata net profit rises 14 per cent to Rs 5.05 crore

CORPORATE SCORECARD

In a reflection of the company's retail restructuring efforts, footwear maker Bata India has reported 14.51 per cent growth in net profit to Rs 5.05 crore for the first quarter ended March 31 compared with Rs 4.41 crore in the same period last financial year.

Bata initiated retail restructuring in February-March 2007 at Rs 3.74 crore to keep shops open for longer hours and seven days a week.

Net turnover stood at Rs 182.67 crore, registering 9.5 per cent rise over Rs 166.84 crore in the first quarter of 2006.

Sales in high-end flagship stores increased by 15.1 per cent in the first quarter of 2007 compared with the same quarter of 2006 - constituting over one-third of the total turnover.

The growth was contributed by better shoe design and renovation of the existing stores/ new stores, the company said.

Bata employed a capital of Rs 12.83 crore in joint venture for surplus property development in the March quarter while its capital employed in the footwear business was pegged at Rs 204.22 crore.