Footwear major Bata India reported a net profit of Rs 37.18 crore in the July-September quarter, compared to a net loss of Rs 44.31 crore in the corresponding quarter last year. The company’s revenue from operations in the second quarter of the current fiscal stood Rs 614.12 crore, compared to Rs 367.87 crore in the corresponding quarter last fiscal.
Bata continued with the retail expansion drive in tier 3-5 cities through the franchise route, taking the overall tally to more than 270. The company’s sales through digitally enabled services continued momentum and contributed around 14 per cent of the total sales in the September quarter. Bata India expanded its distribution business across 49 new towns.
“In this quarter, we expanded our reach in smaller towns by opening our 250th franchise store, ensuring availability in multi-brand outlets via distribution channel and also optimized our network through right sizing and right locations. We have enhanced our portfolio in casual footwear section across categories led by Floatz and renewed range of North Star footwear,” said Mr Gunjan Shah, MD and CEO – Bata India.
”We also focused on scaling up presence of our e-store, Bata.in, with an expanded range. Along with channel expansion initiatives, we continued our strong focus on cost-savings measures across our network, controlling discretionary spends and enhancing productivity. These measures have laid the foundation that will help us capture the emerging consumer demand efficiently,” added Mr Shah.
Bata India is the largest footwear retailer in the country, offering footwear, accessories and bags across brands such as Bata Red Label, Bata, Hush Puppies, Marie Claire, Weinbrenner, North Star, among others.
Shares of Bata India settled 0.34 per cent higher at Rs 2,042.95 apiece on the BSE.