Bata Q3 net profit rises to Rs 32 cr

Footwear retailer and manufacturer Bata India’s net profit increased 6.7 percent to Rs 32 crore in the third quarter of current calendar year from Rs 30 crore in the corresponding quarter of last fiscal.

Net sales rose by 14.5 percent to Rs 423.5 crore from Rs 370 crore during the same period.

The company has opened 33 new Bata stores this quarter, adding to the increasing network of stores. These new stores are based on the new large format and are above 3000 sq ft. and are spread across metros, tier 1 and tier 2 cities.

At 15:26 hours IST, shares dropped 4 percent to Rs 850 amid huge volumes on the Bombay Stock Exchange.

Source: www.moneycontrol.com

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