Bata India bottom line up 320% to Rs 40.15 cr

Kolkata, Apr 28 | Updated: Apr 29 2007, 05:32am hrs
Sustaining the turnaround in its performance achieved in the first quarter of 2005-06, Bata India on Saturday came out with a set of stellar performance for the year to December 2006.

The companys bottom line went up 320% from Rs 12.49 crore in 2005 to Rs 40.15 crore in 2007 while net sales was up marginally from Rs 73.42 crore to Rs 79.48 crore. The profit includes an exceptional item of Rs 1.71 crore.

According to the statement issued by managing director Marcelo Villagran, The increase (in the bottom line) is attributed to higher income, higher margin because of improved show design, renovation of existing stores, consolidation and specialisation of factories and transformation of wholesale business.

During the year, the company paid Rs 12.22 crore to the state government as land development fees and capital gains tax of Rs 6.9 crore, which has been repaid to the company by Riverbank Holding, the joint venture between Bata and real estate developer United Credit Belani group.