Bata India reported a three-fold increase in the consolidated net profit at Rs72.32 crore for the Q3 ending in December 2021, an official statement highlighted.
The company had posted a net profit of Rs 26.41 crore in this quarter ending on Dec-21. The revenue from operations stood at Rs 841 crore for this quarter. The total expenses were at Rs 757.54 crore as against Rs 588.10 crore in the year-ago period.
During this quarter, the company managed to opened 34 new franchise stores, expanded availability via distribution channel that scaled up to 1,000+ towns.
Gunjan Shah, MD and CEO – Bata India Limited stated on this ““In this quarter, we saw significant improvement in customer sentiment. Additionally, we kept expanding our reach through new franchise stores & multi-brand outlets. We opened 34 new Franchise stores, expanded availability via Distribution channel that scaled up to 1000+ towns. We have enhanced our portfolio in casual category led by Hush Puppies, Bata Red Label and renewed sneaker category with North Star & Power styles. With consumers preferring sneakers, we strengthened our sneaker proposition by rolling out our new ‘Sneaker Studios’ to display upto 300 styles, 9 brands in stores & on bata.in, our first sneakers campaign and expanding availability across all stores. Sneakers thus led the growth recovery in the quarter while formal & fashion also recovered significantly. We continued upshift in marketing investments with new ‘Surprisingly Bata Festive’ & ‘Unlimited Sneakers at Bata’ campaigns which elevated our consumer connect. We also reached 100% full vaccination in all our eligible employees across locations during the quarter.
Simultaneously, 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. Innovation via agile product creation, scaling up digital channels, expansion in Tier 3-5 towns, and productivity enhancement will continue to be a priority along with safety of our employees and customers.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.”
