Footwear firm Bata India has decided to merge its two wholly-owned subsidiaries - Bata Properties and Coastal Commercial & Exim with itself. In this regard, the company’s board gave its approval in a meeting held on August 5, 2014. However, the merger would be subject to regulatory approvals and sanction by the Calcutta High Court.
The company’s net profit decreased by 4.13% at Rs 59.38 crore as compared to Rs 61.94 crore for the quarter ended June 30, 2013. However, its total income rose 8.68% to Rs 630.58 crore for the quarter under review from Rs 580.22 crore for the corresponding quarter of the previous year.
