Bata promotes Ram Kumar Gupta as Director-Finance

Footwear company Bata India has elevated Ram Kumar Gupta as its Director-Finance and Chief Financial Officer, for a period of five years. Gupta's appointment would be subject to shareholder’s approval at its general meeting, Bata said in a BSE filing.

Gupta's appointment comes after Ranjit Mathur resigned from the post of CFO and Director-Finance of the company. He was on the board of Bata Properties and Coastal Commercial & Exim, wholly-owned subsidiaries of Bata India. Gupta had joined Bata in 1986 and has worked in different positions.

The company, suffering amid stiff competition, managed to report a 55.2 percent rise in net profit at Rs 92.2 crores for the first quarter ended June 30, 2015. The company had posted a net profit of Rs 59.4 crores during the same period of the previous fiscal. Net sales increased to Rs 680.4 crores against Rs 622 crores during the same period of previous fiscal.