Bata Q1 net profit rises 7% to Rs 38.46 cr

Footwear retailer Bata India today reported nearly 7% increase in its standalone net profit for the quarter ended March 31 at Rs 38.46 crore.

The company had posted a net profit of Rs 36 crore in the corresponding period last year, Bata India said in a release.

The standalone net income during the first quarter also went up by 11.80% to Rs 453.87 crore from Rs 405.95 crore in the year-ago period, it added.

Commenting on the numbers, Bata India Group Managing Director Rajeev Gopalakrishnan said: "Despite the existing market conditions, we achieved a double-digit growth in this quarter. We undertook various initiatives that have helped up continue to maintain our foothold in such a volatile market condition."

The company hopes the market condition at ease very soon and better growth in the quarters to come, he added.

"We've focused on categories like ladies, non-footwear in addition to others and we've seen encouraging results," Gopalakrishnan said.

The shares of Bata India today closed 3.51% down at Rs 704.75 apiece on BSE.