Footwear retail chain Bata India today posted 58.22 per cent increase in net profit

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at Rs 40.98 crore for the second quarter ended June 30, 2011 as against the same period previous fiscal.

The company had a net profit of Rs 25.90 crore in the quarter ended June 30, 2010, Bata India said in a statement.

During the reporting quarter, Bata India's net sales surged by 22.64 per cent to Rs 429.36 crore from Rs 350.08 crore posted in the corresponding quarter a year ago.

"The increased profitability is the result of improved sales and margin from our shoe line and continued growth from both of our retail and non retail businesses," Bata India Managing Director Marcelo Villagran said in a statement.

He said the company has been able to achieve the growth through rapid expansion, higher response to its product collection, expenditure control, better customer service and growth in customer base.

The company said it has continued its strategy of expanding its retail stores and opened 68 new Bata stores till June 30, 2011.

The firm said it will continue to add over 70 new Bata stores every year, and renovate the existing stores providing incomparable shopping experience and customer service.

Shares of Bata India closed at Rs 621.55 apiece on the BSE, down 0.58 per cent from the previous close.