Retirement scheme dents Bata’s profits - leatherbiz: Leading news site Leatherbiz

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Retirement scheme dents Bata’s profits

09/11/2023
Shoemaker Bata India has reported a 38% fall in second-quarter profit, hit by a one-time charge and falling sales at its stores.

Profit fell to 339.9 million rupees ($4.1 million) in the July-September quarter, according to a report on Reuters.

This was due to a 409 million rupees charge related to a voluntary retirement scheme at one of its manufacturing units.
 

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