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Bata cuts Q3 loss by 33%, revenues up 6%
Kolkata, Oct 24: Bata India has managed to cut losses in the third quarter by 33% to Rs 5.6 crore, compared to Rs 8.5 crore in the same period last year.
Kolkata, Oct 24: Bata India has managed to cut losses in the third quarter by 33% to Rs 5.6 crore, compared to Rs 8.5 crore in the same period last year.
Between July-September this year, the company’s total income increased 6% to Rs 164.8 crore, compared to a total income of Rs 154.5 crore in the corresponding period last year.
Bata’s third quarter results were announced after a meeting of the company’s board of directors in Kolkata on Thursday. Between July-September ’03, the company’s total expenditure went up by 3% to Rs 167.5 crore, compared to Rs 162.4 crore in the corresponding period last year.
Bata India’s retail operations have clocked an 8% growth to Rs 125 crore in the period under consideration, against Rs 115.4 crore in same period last year, a company release said. Also, net profit from retail business has grown by 68% in the nine-month period during the year to Rs 9.3 crore. In particular, its Weinbrenner brand sales went up by 234%, while Marie Claire and Power brands grew 37% during the above period.
“Our wholesale business is seeing stringent regulations being put in place, where only partners with long-standing credit worthiness are being encouraged. Our strategic decision to focus on retail business as part of a long-term result-oriented strategy and growth in retail business has endorsed our commitment to be more market driven,” Stephen J Davies, managing director, Bata India said. Bureau Report
Bata’s third quarter results were announced after a meeting of the company’s board of directors in Kolkata on Thursday. Between July-September ’03, the company’s total expenditure went up by 3% to Rs 167.5 crore, compared to Rs 162.4 crore in the corresponding period last year.
Bata India’s retail operations have clocked an 8% growth to Rs 125 crore in the period under consideration, against Rs 115.4 crore in same period last year, a company release said. Also, net profit from retail business has grown by 68% in the nine-month period during the year to Rs 9.3 crore. In particular, its Weinbrenner brand sales went up by 234%, while Marie Claire and Power brands grew 37% during the above period.
“Our wholesale business is seeing stringent regulations being put in place, where only partners with long-standing credit worthiness are being encouraged. Our strategic decision to focus on retail business as part of a long-term result-oriented strategy and growth in retail business has endorsed our commitment to be more market driven,” Stephen J Davies, managing director, Bata India said. Bureau Report