Bata net profit up, touches Rs 39 cr in Q3

Footwear retailer Bata India has reported a 3.77 percent increase in standalone net profit at Rs 39 crores for the third quarter due to higher expenses. The company, which follows January-December financial year, had reported net profit of Rs 37.58 crores in July- September quarter of last year, Bata India said in a BSE filing.

Bata India's Q3 net sales stood at Rs 547.64 crores, up 13.11 percent compared to Rs 484.15 crores in the same quarter a year ago. Overall expenses in the July-September quarter were at Rs 499.85 crores, up 14.43 percent as against Rs 436.79 crores in the same period last year.

Of later, Bata is investing a lot in advertising, brand building and retail expansion through physical stores as well as e-commerce. The company plans to open 100 Bata stores and exclusive Hush Puppies and Foot In stores in Tier II and III markets.

Bata stores are opened under two formats. One are city stores that are based in metros, Tier II towns and malls and operate in Rs 700-800 ASP (average selling price) and the second format are family stores, which are smaller in size, lower ASP and operates on high street areas in Rs 300-400 price bracket.