Bata India Ltd. standalone profit for Q1 FY11 stood at Rs. 10936.8 lacs

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Bata India Ltd. standalone profit for Q1 FY11
Bata India Ltd. announced its standalone quarterly results for the first quarter ending March 31, 2011 on Thursday, April 28, 2011. The company recorded a net profit of Rs. 10936.8 lacs for the same period as compared to net profit of Rs. 1433 lacs reported during the corresponding period in 2010. This is equivalent to a growth of 663.21%.

Though there has been an increase in the net sales of footwear and accessories segment, net sales of this segment increased to Rs. 31688.8 lacs from Rs. 26243.3 lacs, an increase of 20.75%.

But, the major contributor to the increased growth in the net profit is the sale of a joint township development project at Batanagar. Besides this, the company is also to receive 324550 square feet of constructed space in this project at no additional cost, as per the agreement.

The top line of the company for the current quarter was Rs. 31065.6 lacs as compared to Rs. 25915.4 lacs in the corresponding quarter in the previous year. This means that there was a 19.87% increase in the net sales.

Purchase of traded goods has increased by 45.15% but the effect is offset to some extent by increase in the stock in trade and work in progress value. Thereby the total expenses have increased from Rs. 24110.4 lacs to Rs. 27838 lacs, i.e. an increase of 15.46%. The paid up equity share capital remained constant at Rs. 6426.4 lacs and hence the increase in EPS from Rs. 2.23 to Rs. 17.02 is on account of the increased net profit.

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