Bata India Q3 profit up nearly three folds at Rs 72 cr, Retail News, ET Retail

Bata India Q3 profit up nearly three folds at Rs 72 crNew Delhi: Bata India on Tuesday reported nearly three-fold increase in consolidated net profit at Rs 72.32 crore for December quarter 2021-22. The company had posted a net profit of Rs 26.41 crore in the year-ago period, Bata India said in a BSE filing.

Revenue from operations was up at Rs 841.30 crore during the quarter under review as against Rs 615.62 crore.

“Backed by improved sales during the festive season and re-opening of economy, revenue from operations for the quarter stood at Rs 841.3 crore and profit before tax was Rs 97.27 crore,” said Bata India a post earning statement.

Total expenses were at Rs 757.54 crore as against Rs 588.10 crore in the year-ago period.

“In this quarter, we saw significant improvement in customer sentiment. Additionally, we kept expanding our reach through new franchise stores & multi-brand outlets,” Bata India MD and CEO Gunjan Shah said.

During the quarter, Bata India opened 34 new franchise stores, expanded availability via a distribution channel that scaled up to over 1,000 towns, he added.

According to the company, its sales are now up at the pre-Covid levels, helped by continued focus on key thrust areas of franchise & multi brand outlet (MBO) expansion, consumer-relevant communication, portfolio casualization and digital footprint expansion.

“All these have resulted in increase in footfalls across retail outlets, along with significant growth driven via e-commerce platforms and expansion in Tier 3-5 towns. This resulted in revenue moving ahead of pre-pandemic levels,” said Bata India.

Over the uncertainties after the third wave of the pandemic, Bata said it is “optimistically looking forward” to faster recovery post the wave subsiding.

“Owing to decline in Covid cases and vaccine rollout for 15 to 18 age group, we optimistically look forward to quick rebound in consumer sentiments,” Shah added.

Shares of Bata India Ltd on Tuesday settled at Rs 1,883.05 apiece on BSE, down 2.01 per cent from the previous close.

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