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Bata India Q2 profit rises 47% to Rs 55 crore; net sales up 35% at Rs 830 crore, Retail News, ET Retail

Bata India Q2 profit rises 47% to Rs 55 crore; net sales up 35% at Rs 830 crore

New Delhi: Leading shoemaker Bata India on Thursday reported a 47.44 per cent rise in consolidated net profit at Rs 54.82 crore in the second quarter ended September 2022, helped by increased footfalls at stores. The company had posted a net profit of Rs 37.18 crore in the July-September quarter a year ago, Bata India Ltd said in a BSE filing.

Its revenue from operations during the quarter under review was at Rs 829.75 crore, up over 35.11 per cent from Rs 614.12 crore of the corresponding quarter of FY22.

Bata India’s total expenses in the September quarter were at Rs 769.56 crore, up 33.73 per cent.

“Despite tough operating environment and significant material inflation, the company managed to drive broad volume driven revenue growths across business channels of retail/franchise/distribution/e-comm,” said Bata India in its earnings statement.

In the September quarter, Bata’s distribution channel continued to scale up to over 1,100 towns.

Its digital business also achieved its “highest revenue” of Rs 95 crore during the quarter contributing 11 per cent of total sales.

Bata India MD and CEO Gunjan Shah said the festivity around the corner and positive customer sentiments reflected in increased footfalls.

“Our continued improvement in customer experience and engagement has reflected in ever highest net promoter score,” he said.

Sneakers continued to lead the momentum and growth across businesses, said Shah.

However, he also added that in the mass categories, there has been sluggishness due to the inflationary pressure.

“Further, the management is keeping a close watch on the pricing trends to ensure timely corrective actions,” he said.

Share of Bata India on Thursday settled at Rs 1,779.20 on BSE, down 1.77 per cent from previous close.

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