Bata reports 29.77 per cent increase in profit to Rs 55.66 crore

The company had posted a net profit of Rs 42.89 crore in the July-September quarter a year ago.

Footwear major Bata India today reported a 29.77 per cent increase in its standalone net profit to Rs 55.66 crore for the second quarter ended September 30, 2018.

The company had posted a net profit of Rs 42.89 crore in the July-September quarter a year ago.

Its total income stood at Rs 687.96 crore during the quarter under review. It was Rs 601.72 crore in the corresponding quarter last fiscal, Bata said in a BSE filing.

"We have built up growth momentum in the second quarter with portfolio refresh across categories, and we hope to continue it as we get into the peak festival season. Our strategy of using youth icons to push our key categories has yielded positive results," said Sandeep Kataria, chief executive officer, Bata India.

Shares of Bata settled at Rs 1,007.65 apiece on the BSE, down 0.65 per cent, from their previous close.