Somani's resignation will be effective from 5 September 2024, with his last working day set for 4 September 2024.
The company would initiate the process of identifying a candidate for the said position and shall inform the stock exchanges in due course, said Bata.
Bata India is the largest retailer and manufacturer of footwear in the country. The company is engaged in the business of manufacturing and trading of footwear and accessories through their retail and wholesale network. Their products include leather footwear, rubber/canvas footwear and plastic footwear.
The company’s consolidated net profit surged 62.84% to Rs 174.06 crore in Q1 FY25 as against Rs 106.89 crore posted in Q1 FY24. Revenue from operations declined 1.41% year on year (YoY) to Rs 944.63 crore in the quarter ended 30 June 2024.
Shares of Bata India gained 2.16% to close at Rs 1,419.50 on Friday, 16 August 2024.