Bata India Q4 profit up 4.5%
1 min read 18 May 2023, 10:20 PM ISTThe company reported a profit of ₹65.55 crore compared to ₹62.7 crore reported in the corresponding quarter last fiscal.
PremiumNEW DELHI : Footwear major Bata India Ltd on Thursday reported a 4.5% jump in standalone net profit for the three months ended 31 March 2023.
The company reported a profit of ₹65.55 crore compared to ₹62.7 crore reported in the corresponding quarter last fiscal.
The footwear retailer reported a 17% jump in quarterly revenue from operations to ₹778.5 crore.
In the year ago period, the company’s revenue from operations stood at ₹665.3 crore.
In fiscal 2023, Bata India drove aggressive network expansion with over 2,050 stores in close to 700 cities; of this, franchise and shop-in-shops constitute over 37% of its retail network.
During the quarter, the company renovated 22 stores.
The retailer has witnessed an uptick in demand for comfort footwear over the last few quarters.
“Bata India had a robust year, and this reflects in the growth over pre-covid levels for all key metrics and across all business channels of EBOs, MBOs and E-Commerce. During the last few quarters, we are witnessing consistent demand for casual and comfortable footwear. This is due to increasing trend for purchase of non-occasion wear and demand for comfort & style," said Gunjan Shah, MD and CEO, Bata India.
Bata is focused on refreshing its product portfolio with the strategy of casualization and offering premium products. In India, Bata sells brands such as Hush Puppies, Comfort, North Star etc.
“We continue to add franchise and shop-in-shop stores to cater to untapped markets in a capital efficient way," Bata’s Shah said.
Bata will step-up marketing investments in the coming year, he added.
On Thursday, the company’s board recommended a dividend of ₹ 13.50 per equity share of ₹ 5 each, fully paid-up of the company, amounting to ₹173.5 crore for the financial year ended 31 March 2023.
