Bata India increases net profit by 41% in Q1
Bata India's net profit figure does not consider the gains of Rs 83 crore the company made from surplus property development. The turnover of the company grew by 31% to Rs 405.48 crore (Rs 310.66 crore). Bata India Limited group managing director Rajeev Gopalakrishnan said with an increase in the number of pairs sold, the first quarter of 2012 has began on a promising note.
"We have continued on our strategy of expanding our retail foot print, improving our merchandising and coming up with newer and better designs. We also continue to focus on our product quality and comfort," Gopalakrishnan said. Bata India has opened multiple stores in the first quarter in Delhi, Mumbai, Chennai, Hyderabad and Bangalore. It also increased retail penetration in smaller cities such as Ambala, Anand, Bilaspur, Hissar, Bhopal, Kannur, Indore, Bareilly and Gaya amongst others. The company opened 61 new Bata stores during the period.
The Hush Puppies brand also saw expansion with the opening of 4 exclusive new stores and 2 shop-in-shops in leading department stores during the first quarter period. Bata India also rolled out its spring summer collection for 2012. The company is focusing on its offerings for the younger audience by bringing new designs with bright and trendy colours through its brands like Northstar and Weinbrenner. It has also launched a wide range of ladies handbags with contemporary designs and colours.