Bata India Q4 net jumps over two-fold to Rs 63 cr; net sales up 13% to Rs 665 cr, Retail News, ET Retail

Bata India Q4 net jumps over two-fold to Rs 63 cr; net sales up 13% to Rs 665 crNew Delhi: Shoemaker Bata India Ltd on Wednesday reported over two-fold increase in its consolidated net profit at Rs 62.96 crore for the fourth quarter ended March 31, 2022 helped by robust sales.

The company had posted a net profit of Rs 29.47 crore in the January-March quarter a year ago, Bata India said in a regulatory filing.

Its revenue from operations increased 12.77 per cent to Rs 665.24 crore during the quarter under review, as against Rs 589.90 crore in the corresponding quarter of 2020-21.

“The company continued the focus on key thrust areas of franchise & MBO expansion, consumer-relevant communication, portfolio casualisation 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,” said Bata India in its earnings statement.

This has resulted in revenue for the quarter staying in line with pre-pandemic levels for a second consecutive quarter, despite Omicron-related disruptions in the initial part of the quarter.

Bata India’s total expenses were at Rs 599.39 crore, up 6.29 per cent in Q4/FY 2021-22, as against Rs 563.90 crore in the January-March quarter of the previous fiscal.

“In the last two quarters, we witnessed significant recovery in demand in the backdrop of improvement in consumer sentiments and deeper understanding of the pandemic, availability of vaccines and faster easing of restrictions. We kept expanding our reach through new franchise stores & multi-brand outlets,” Bata India MD and CEO Gunjan Shah said.

Bata has opened 22 new Franchise stores taking the total number over 300, expanded availability via distribution channels that continued to scale up to over 1,000 towns, he added.

“We have enhanced our portfolio in the casual & fashion footwear section across categories. Sneakers led the growth recovery in the quarter, while formal & fashion also recovered significantly,” Shah said.

For the fiscal ended March 2022, Bata India’s consolidated net profit was at Rs 102.99 crore. It had reported a net loss of Rs 89.31 crore in fiscal year 2020-21.

Its revenue from operations was at Rs 2,387.71 crore in 2021-22, 39.75 per cent higher than Rs 1,708.48 crore in the year-ago period.

“Bata India has had a robust performance and is on a sound trajectory ahead. Given its focus on newer collection, expansion through all channels and omni-channel in particular, Bata India is well poised for the future. Its new business model and focus is reflected in the quick retrieval of business to pre pandemic levels and further growth,” said Bata India Chairman Ashwani Windlass.

The Board of the company in a meeting held on Wednesday recommended a dividend of 1,090 per cent, which is Rs 54.5 per equity share of Rs 5 each fully paid-up of the company, which includes a one-time special dividend of Rs 50.5, for the year ended March 31, 2022.

Shares of Bata India Ltd settled at Rs 1,746.90 on BSE, down 2 per cent from the previous close.

Source link

Privacy Preferences
When you visit our website, it may store information through your browser from specific services, usually in form of cookies. Here you can change your privacy preferences. Please note that blocking some types of cookies may impact your experience on our website and the services we offer.