Shoemaker Bata India Ltd on Tuesday reported an increase of 62.84 per cent in its consolidated net profit at Rs 174.36 crore in the first quarter ended June 2024, helped by margin expansion and gains from sale of industrial land.
It had posted a net profit of Rs 106.89 crore in the April-June period a year ago, according to a regulatory filing from Bata India.
However, its revenue from operations was down 1.41 per cent to Rs 944.63 crore during the quarter under review. It was at Rs 958.14 crore in the corresponding period a year ago.
"The results for the quarter demonstrate disciplined execution of our strategies on premiumisation, investment in marketing and technology, elevating the customer experience, by maintaining gross margins in the face of sluggish consumption momentum during the quarter," said an earnings statement from the company.
Besides, Bata also had a one-time gain on the sale of property of Rs 134 crore in the June quarter.
"The results for the quarter also ...
