Footwear major Bata India today reported 15.84 per cent decline in net profit to Rs 37.71 crore for the third quarter ended December 31, 2016.
The company had posted a net profit of Rs 44.81 crore in October-December period a year ago, Bata India said in a BSE filing.
However, its net sales increased by 2.41 per cent to Rs 640.19 crore during the quarter under review as against Rs 625.09 crore in the corresponding quarter last fiscal.
Its total expenses were also up 2.55 per cent during the quarter at Rs 581.26 crore as against Rs 566.79 crore.
Commenting on the outlook, Bata Emerging Markets South Asia President Rajeev Gopalakrishnan said: "This year, we will be following our dual strategy of driving same store growth while also adding news stores. We have identified multiple trade areas, covering malls and high street location where we will open Bata and Hush Puppies brand." Shares of Bata today settled 0.20 per cent higher at Rs 508.30 on BSE.
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