New Delhi, May 27 -- Footwear maker Bata India reported a 95.2% year-on-year drop in consolidated net profit to Rs.2.2 crore in the March quarter (Q4FY26), hurt by a voluntary retirement scheme (VRS) charge and a forex-related accounting loss.

The profit is down sequentially by 96.6%. Bata incurred VRS cost of Rs.28 crore and a non-cash forex loss of Rs.22.4 crore due to restatement of financial liability towards royalty amid currency fluctuation in the quarter, according to an exchange filing on Wednesday.

In January, the company had approved a VRS option for workers at its Bata Shatak Unit in Hosur, Tamil Nadu. The company has rolled out similar schemes across manufacturing units in recent years and has also shut some facilities.

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