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Journalism of Courage
CALCUTTA, July 24: Bata India Ltd has reported a net profit of Rs 8.35 crore on net sales of Rs 341.89 crore in the six months ended June 30, 1997. Gross profit rose by 190 per cent to Rs 14.36 crore compared to the corresponding half in 1996 although sales grew by 16.7 per cent during the same period.Other income at Rs 1.22 crore (previous half of 1996- Rs 16 lakh) includes a one-time gain of Rs 50 lakh on disposal of three "small unutilised plots of land".
The first half profit after tax is more than double the net profit of Rs 4.15 crore achieved in 1996 calendar year. The improved performance, according to company sources, is the outcome of the overall restructuring and consolidation exercises undertaken last year.
The company’s strategy to concentrate on the low and medium-priced footwear segments has yielded positive results and this policy is expected to continue.
According to company officials, the company has cut costs by improving production efficiency.
