Bata India reports consolidated net profit of Rs 37 crore for September quarter

Shoemaker Bata India on Wednesday reported a consolidated net profit of Rs 37.18 crore for the second quarter ended September 2021 helped by an increase in sales of its outlets, e-commerce platforms and expansion drive of the company.

The company had posted a net loss of Rs 44.31 crore in July-September a year ago, Bata India said in a BSE application.

Revenue from operations stood at Rs 614.12 crore in the quarter under valuation against Rs 367.87 crore in the corresponding quarter last fiscal.

“Since the opening of the economy and aggressive vaccination drives across the country, the company has continued its multiple measures to ensure customer safety, consumer-relevant communication, product availability and channel expansion.

“All of this has resulted in a consistent increase in the number of footwear in their retail stores, along with growth seen through e-commerce platforms and expansion drive in smaller cities in Tier 3-5,” the company said in a post-release statement.

The total expenditure was Rs 575.44 crore against Rs 440.72 crore a year ago.

Bata India MD and CEO Gunjan Shah said, “Together with channel expansion initiatives, we have continued our strong focus on cost-cutting measures in our network, controlling discretionary spending and improving productivity. Consumer demand efficient.”

Innovation through agile product creation, introduction of new emerging digital channels, expansion in tier 3-5 cities, and productivity improvement will remain a priority along with the safety of our customers and employees through a robust vaccination drive, he added.

On the outlook, the company said: “Despite the prevailing uncertainties, we look forward to the upcoming holiday season and continue with cautious optimism”.

Shares of Bata India on Wednesday closed at Rs 2,036.05 each on BSE, 0.44 percent down from the previous close.

(Only the headline and image of this report may have been edited by Business Standard staff; the rest of the content will be automatically generated from a syndicated feed.)

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