Bata, Saregama India & Vimta Labs Q1 results

CORPORATE SCORECARD

Bata Q1 net profit rises 38%

Footwear retailer Bata India posted a 38 per cent increase in profit after tax at Rs 162 crore for the quarter ended June 30, 2008, form Rs 117 crore in the corresponding period last year.

The company posted a 14.85 per cent increase in turnover at Rs 286 crore for the quarter form Rs 249 crore in the same period last year. The company opened 32 new stores and renovated 22 existing stores in the first half of the year and continued to focus on improving shoe design, particularly for women and youth.

This, together with stricter cost control, improved product mix, consolidation of manufacturing activities and transformation of the wholesale business resulted in improved profitability, the company said. The company has a retail footprint of over 1,000 stores in more than 56 cities.

Saregama FY08 net falls 43%

Saregama India, the entertainment arm of RPG Group, posted a 43 per cent fall in net profit to Rs 9 crore for the year ended March 31, 2008, as against Rs 16 crore last year. Saregama, however, recorded four per cent increase in turnover to touch Rs 143 crore for the year from Rs 137 crore.

“The fall in profit is due to charging off costs of copyright acquisition of new content during the year. These copyrights will continue to earn revenues over the years but the unrecovered investment has been charged off in the current fiscal year,” the company said.

Vimta Labs Q1 PAT soars 82%

Contract research and testing company Vimta Labs posted an increase of 82.4 per cent in net profit to Rs 1.59 crore for the first quarter ended June 30, 2008, as compared with Rs 87.16 lakh during the corresponding period last year.

Total revenues rose 13.36 per cent to Rs 21.2 crore from Rs 18.7 crore last year. Basic EPS was at Rs 0.72 as against Rs 0.39 last year.