Bata India, a footwear manufacturer and retailer, has reported a 26.8 percent increase in its net sales as it declared its financial results for the third quarter ended September 30, 2011.
The company’s profit before tax (PBT) grew by 46.2 percent at Rs 4503.3 lacs as against Rs 3080.3 lacs in the same period last year. The net sales of the company grew by 26.8 percent at Rs 36998.6 lacs as against Rs 29178.1 lac in the same period last year.
Announcing the results, Rajeev Gopalakrishnan, Group Managing Director, Bata India, said: “Higher sales and profitability due to our continued expansion plan, an excellent shoe line, improved distribution and our customer centric approach are responsible for these excellent results. Quarter-on-quarter we have been delivering the best results and are well on our way to make this the most profitable year for Bata India. There has been consistent growth in our retail and non-retail businesses which has made this quarter so successful.”
Bata India has continued the expansion strategy of its retail stores and has so far opened 106 new outlets this year. The new showrooms are based on the new large format and are above 3,000 sq.ft. and spread across metros, tier 1 and 2 cities. Bata will continue to add over 70 new stores every year and renovate the existing ones. The company also continued expansion of its Hush Puppies brand by opening nine exclusive outlets and five shop-in-shops with leading department stores in the same period.
Bata has continued to focus on improvements in shoe designs through research, customer feedback, and trend analysis. The company’s wholesale business has continued to grow with new customers in unrepresented towns. Bata India retails footwear through over 1,250 stores located in over 500 cities across India.
-IndiaRetailing Bureau
