Bata releases review for quarter ended Mar 31, 2007
06 Jun '07
3 min read
3. Due to inappropriate classification in various accounts, as detailed vide Annexure "A" which is an integral part of this report, certain amounts in the accompanying un-audited financial statements are at variance with the amounts verified by the Auditors during Limited Review.
4. Reasons for restructuring and improvements in performance disclosed in Note No 1 of the accompanying un-audited financial results can not be commented on by the Auditors being of a qualitative nature.
Additional one time expense on Retail restructuring is not the restructuring expense with in the meaning of Accounting Standard — 29 on Provisions, Contingent Liabilities and Contingent Assets issued by Institute of Chartered Accountants of India but represents non-recurring expenditure incurred on replacement of key personnel at some of the shops & incidental expenditure thereto.
5. Reasons for growth in turnover and High-End Flagship store performance as disclosed in Note No 2 of the accompanying un-audited financial results can not be commented on by the Auditors being of a qualitative nature."
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