Bata India's Q1 profit rises on one-time gain

BENGALURU, Aug 6 (Reuters): Footwear maker Bata India reported a nearly 63 per cent rise in first-quarter profit on Tuesday, after four quarters of profit slump, aided by a one-time gain from sale of property.

The company, which sells brands such as Hush Puppies and North Star in India, said its consolidated profit rose to 1.74 billion rupees ($20.7 million) in the three months ended June 30 from 1.07 billion rupees a year ago.

Revenue from operations fell marginally to 9.45 billion rupees, while total expenses rose about 6 per cent to 8.78 billion rupees.

Bata India had a one-time gain of 1.34 billion rupees from sale of property in the June quarter.

The company declared an interim dividend of 10 rupees per share.