New Delhi, May 25 (PTI) Shoemaker Bata India Ltd on Wednesday reported over two-fold increase in its consolidated net profit at Rs 62.96 crore for the fourth quarter ended March 31, 2022.

The company had posted a net profit of Rs 29.47 crore in the January-March quarter a year ago, Bata India said in a regulatory filing.

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Its revenue from operations increased 12.77 per cent to Rs 665.24 crore during the quarter under review, as against Rs 589.90 crore in the corresponding quarter of 2020-21.

Bata India's total expenses were at Rs 599.39 crore, up 6.29 per cent in Q4/FY 2021-22, as against Rs 563.90 crore in the January-March quarter of the previous fiscal.

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For the fiscal ended March 2022, Bata India's consolidated net profit was at Rs 102.99 crore. It had reported a net loss of Rs 89.31 crore in fiscal year 2020-21.

Its revenue from operations was at Rs 2,387.71 crore in 2021-22, 39.75 per cent higher than Rs 1,708.48 crore in the year-ago period.

The Board of the company in a meeting held on Wednesday recommended a dividend of 1,090 per cent, which is Rs 54.5 per equity share of Rs 5 each fully paid-up of the company, which includes a one-time special dividend of Rs 50.5, for the year ended March 31, 2022.

Shares of Bata India Ltd settled at Rs 1,746.90 on BSE, down 2 per cent from the previous close.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)