Bata India Q2 profit rises 17.6%
Net sales of the company went up by 13.67% to Rs 5.72 billion for the quarter ended June 30, 2013 from Rs 5.04 billion in the year ago period.
During the quarter, the operating profit margin increased by 30 bps to 14.27% from 13.97% for the same period last year.
Rajeev Gopalakrishnan, group managing director, Bata India said, ''It has been a good year and we continue to see stronger growth with greater opportunities. The robust quarterly performance reflects our strong understanding on the consumer needs and our relentless focus on quality sales growth. We expect to benefit from our aggressive retail expansion, newer designs and newer product ranges in the future. We are confident our momentum will accelerate in line with our expectations as we move through the year.''
Shares of the company declined Rs 16.2, or 1.81%, to settle at Rs 878. The total volume of shares traded was 48,911 at the BSE.