Bata India share prices jumped close to 5 percent in the morning session on November 14 after the company had reported consolidated net profit which jumped 30.1 percent at Rs 71.3 crore versus Rs 54.9 crore. Its revenue was up 7.3% at Rs 721.9 crore versus Rs 673 crore YoY.
The company said it would strengthen its presence in the domestic market by adding 500 stores in the next five years, focusing mainly on smaller markets. The company has identified tier II, III and IV cities where it has plans to broaden its sales network through the franchise model, Bata India said in a statement.
Bata has already identified 180 such markets in smaller cities pan-India, where the company is seeking franchise partners to expand its presence beyond metro cities.
Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
- Oriental Bank of Commerce Q2 net profit rises 24% to Rs 126 crore
- Infosys Share Price Recovers Early Losses, Rises Over 2%
- NIIT Q2 net profit zooms to Rs 209 cr
- HeidelbergCement India's net profit rises 16% in Q2 FY20
- L&T Q2 net profit rises 13% to Rs 2,527 crore
- Havells Q2 net profit flat at Rs 179.51 cr
- REPL FY19 net profit rises 67% to Rs 8.4 crore; order book rises to Rs 280 crore
- HDFC Bank quarterly net profit rises 27%
- Tata Motors Q2 net profit stands at Rs 848 crore
- Chinese developer Vanke's profit rises 30 pct in January-September