November 04, 2024 23:37 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'I strongly condemn Hindu temple attack, intimidation of our diplomats': PM Modi amid Canada row | 'I strongly condemn Hindu temple attack, intimidation of our diplomats': PM Modi amid Canada row | PM Modi slams INDIA block for its silence over Sena UBT leader's sexist remark against Shaina NC | PDP member brings anti-Article 370 resolution in J&K assembly; BJP resists, CM Abdullah says only govt can do it | Deeply disappointing: Indian High Commission reacts to 'Khalistani' attack on Hindus at Canada temple
Bata India's Q1FY25 profit rises 63% to Rs 174.36 cr

Bata India's Q1FY25 profit rises 63% to Rs 174.36 cr

| @indiablooms | 07 Aug 2024, 02:05 am

Shoemaker Bata India Ltd reported a 62.84 percent increase in its consolidated net profit, reaching Rs 174.36 crore in the first quarter ended June 2024, driven by margin expansion and gains from the sale of industrial land. 

This compares to a net profit of Rs 106.89 crore in the same period the previous year, according to a regulatory filing from Bata India.

However, the company's revenue from operations fell by 1.41 percent to Rs 944.63 crore during the quarter under review, down from Rs 958.14 crore in the corresponding period a year ago.

Bata India's total expenses in the June quarter increased by 6 percent to Rs 877.03 crore.

During the quarter, Bata continued its expansion and now has a network of 1,916 stores, including both company-owned and franchise stores.

The company added 33 franchise stores in the quarter, primarily in Tier 3-5 towns, to meet the demand for branded products and achieve better returns on capital.

Additionally, Bata expanded its presence on new-age channels and "achieved significant growth" in digital sales compared to the previous quarter.

MD and CEO Gunjan Shah noted that the company successfully navigated through a sluggish consumption environment, further exacerbated by the elections and extreme heatwave in the last quarter.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.