Bata India reports 33.76 percent decline in Q4 net profit
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In fact, an analysts’ poll by CNBC-TV18 had suggested that the company may report fourth quarter profit after tax increase of 24.8 percent year-on-year to Rs 65.8 crores. It anticipated adjusted profit to increase 10.7 percent on yearly basis and total income increase of 12.3 percent year-on-year to Rs 622 crores during the quarter under review on the back of rise in product prices and improving realizations. Analysts also expected 7.4 percent year-on-year rise in operating profit to Rs 107 crores but fall in margin by 80 basis points to 17.2 percent in the quarter.
In a separate filing, Bata India has said that Way Finders Brands (WFBL) has become a wholly-owned subsidiary of the company with effect from February 10, 2015. Of late, Bata is aggressively pursuing growth plans. To take on the online competition, the company plans to introduce initiatives like ‘Click and reserve’, so that if a customer likes a certain pair of shoes then he or she can reserve it on the company’s website. The brand is also working on reviving labels like Power, North Star and Hush Puppies that sell under its portfolio.