Footwear major Bata India is in talks with German sportswear giant Adidas for a strategic partnership, CNBC TV18 reported on August 17, citing sources.
The talks are likely in advanced stage and final deal contours are in the works, the business television channel said.
Bata India Ltd on August 9 reported a net profit of Rs 106.8 crore for the June quarter of FY24, registering a decline of 10.3 percent from Rs 119.3 crore a year back.
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The company's revenue stood at Rs 958.1 crore, rising 1.6 percent from Rs 943 crore in the year-ago quarter, the company said in a regulatory filing.
Bata India shares jumped 5.46 percent and were trading at Rs 1,737.05 at 12.49 pm on August 17.
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