Bata India Faces Profit Downturn Amid Restructuring Costs and Forex Challenges
Bata India reported a significant 95% decline in net profit for the fourth quarter ending March 2024, as the footwear giant grappled with substantial voluntary retirement scheme (VRS) expenses and adverse foreign exchange fluctuations. Despite the bottom-line pressure, the company achieved a modest 4.9% growth in revenue, reaching ₹827.6 crore, driven largely by sustained consumer…
