Bata India's quarterly profit drops on sluggish footwear sales, higher costs

Financial Performance: Bata India reported a 10% drop in consolidated profit for the first quarter, impacted by higher costs and sluggish sales growth, with expenses rising nearly 1% and revenue declining by 0.3%.

Market Outlook: Despite challenges from a consumption slowdown in urban areas and weather-related issues affecting store footfalls, Bata remains optimistic about a recovery in consumer spending for the remainder of the year.