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Footwear retailer Bata India Ltd on Wednesday said its consolidated net profit in the March quarter rose 113% to 62.9 crore, up from 29.4 crore reported a year earlier. Revenue from operations rose 12.7% to 665.2 crore, growing from 589 crore a year earlier. Expenses were up 6.2%.

The company that retails via over 1,700 stores recommended a dividend of 54.5 per equity share for FY22, which includes one-time special dividend of 50.50 per share, subject to approval by shareholders.

The latter part of the quarter saw a “significant rebound in growth," Bata said. As a result, quarterly revenues were in line with pre-pandemic levels.

“The company continued the focus on key thrust areas of franchise and multi-brand outlet expansion, consumer-relevant communication, portfolio casualization 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. This 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. This was offset in the latter part of the quarter where we saw significant rebound on growth," Bata said in a statement.

Bata opened 22 new franchise-led stores during the quarter, taking the count to over 300.

“Bata India has had a robust performance and is on a sound trajectory ahead. Given its focus on newer collection, expansion through all channels and omni-channel 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 Ashwani Windlass, chairman, Bata India.

The company expanded availability via distribution channels that continued to scale up to over 1,000 towns, MD and CEO Gunjan Shah added.

“We have enhanced our portfolio in casual and fashion footwear section across categories. Sneakers led the growth recovery in the quarter while formal and fashion also recovered significantly," he said. The company focussed on cost-savings measures across its network, controlling discretionary spends, enhancing productivity and premiumization in the face of volatile inflation, said Shah.

Bata India sells footwear, accessories, and bags across brands such as Bata, Bata Red Label, Hush Puppies, Naturalizer, Power, Marie Claire, Weinbrenner, North Star, Scholl, Bata Comfit and Bubble Gummers, to name a few. It retails in more than 1,700 Bata-owned, shop-in-shops and franchisee stores, on bata.in and in thousands of multi-brand footwear dealer stores pan-India.

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