Footwear retailer Bata India reported a 95% fall in fourth-quarter profit, according to Reuters, as one-time charges and higher costs weighed on earnings.

The Indian footwear retailer posted consolidated profit of €0.24 million for the March quarter, down from €5 million a year earlier.

The company said it incurred a one-time charge of around €3.1 million linked to voluntary retirement schemes, while raw material costs rose by around 12%.

Quarterly revenue increased 5% to €90 million.

Bata India, which retails brands including Hush Puppies and Scholl in India, operates more than 1,375 stores across the country.

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