Bata India Q1 net up 6.8 percent

Kolkata, April 25 (IANS) Footwear majorBata India Thursday reported a 6.8 percent rise in net profit at Rs 38.36 crore for the quarter ended March 31, 2013, compared to Rs.36 crore for the same period a year ago.

Total income of the Kolkata-based company increased from Rs.411.97 crore for the first quarter ending March 31, 2012 to Rs.460.81 crore for the same period this fiscal, according to a release here.

Bata follows the January-December financial year.

Announcing the results, 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.”

Gopalakrishnan said the firm’s strategy of expanding retail footprint continued with improvised merchandise.

The company has opened or relocated 22 new stores in the first quarter of 2013.

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