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Shoemaker Bata India Ltd on Wednesday reported an over two-fold increase in its consolidated net profit at 62.96 crore for the fourth quarter ended March 31, 2022, helped by robust sales. The company had posted a net profit of 29.47 crore in the January-March quarter a year ago, Bata India said in a regulatory filing. Its revenue from operations increased 12.77 percent to 665.24 crore during the quarter under review, as against 589.90 crore in the corresponding quarter of 2020-21.

"The company continued the focus on key thrust areas of franchise & MBO expansion, consumer-relevant communication, portfolio casualisation and digital footprint expansion. All these have resulted in an increase in footfalls across retail outlets, along with significant growth driven via e-commerce platforms and expansion in Tier 3-5 towns," said Bata India in its earnings statement.

This has resulted in revenue for the quarter staying in line with pre-pandemic levels for a second consecutive quarter, despite Omicron-related disruptions in the initial part of the quarter.

Bata India's total expenses were at 599.39 crore, up 6.29 percent in Q4/FY 2021-22, as against 563.90 crore in the January-March quarter of the previous fiscal.

"In the last two quarters, we witnessed significant recovery in demand in the backdrop of improvement in consumer sentiments and deeper understanding of the pandemic, availability of vaccines, and faster easing of restrictions. We kept expanding our reach through new franchise stores & multi-brand outlets," Bata India MD and CEO Gunjan Shah said.

Bata has opened 22 new Franchise stores taking the total number over 300, and expanded availability via distribution channels that continued to scale up to over 1,000 towns, he added.

"We have enhanced our portfolio in the casual & fashion footwear section across categories. Sneakers led the growth recovery in the quarter, while formal & fashion also recovered significantly," Shah said.

For the fiscal ended March 2022, Bata India's consolidated net profit was at 102.99 crore. It had reported a net loss of 89.31 crore in the fiscal year 2020-21.

Its revenue from operations was at 2,387.71 crore in 2021-22, 39.75 percent higher than 1,708.48 crore in the year-ago period.

"Bata India has had a robust performance and is on a sound trajectory ahead. Given its focus on newer collections, expansion through all channels and omnichannel in particular, Bata India is well poised for the future. Its new business model and focus is reflected in the quick retrieval of business to pre-pandemic levels and further growth," said Bata India Chairman Ashwani Windlass.

The Board of the company in a meeting held on Wednesday recommended a dividend of 1,090 percent, which is 54.5 per equity share of 5 each fully paid-up of the company, which includes a one-time special dividend of 50.5, for the year ended March 31, 2022.

Shares of Bata India Ltd settled at 1,746.90 on BSE, down 2 percent from the previous close.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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