Announces financial results; posts 49% growth.
Bata India Limited, the footwear manufacturer and retailer, has announced its financial results for the full year ending December 31, 2011. The company posted a growth of 49 per cent in net profit over the previous year, without considering the gains from surplus property development of Rs 8,377 lakh. The board of directors has recommended a total dividend of 60 per cent on an equity share of Rs 10 each for the year 2011.
Announcing the results, Rajeev Gopalakrishnan, Group Managing Director, Bata India Limited, said, “2011 has been a tremendous year for Bata India. Our strategy continued to be strong on the extensive expansion plan, which has resulted in excellent results for the company due to higher sales and profitability. The growth momentum continued from the first quarter and we have delivered the best results this year for Bata India. Bata India created new exciting product lines to suit the taste of young and new customers.”
In 2012, the company plans to add around100 new Bata Stores and renovate the existing stores.