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

Bata India on Wednesday reported a consolidated net profit helped by an increase in sales

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 from its retail 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 period a year ago, Bata India said in a BSE filing.

Revenue from operations was up at Rs 614.12 crore during the quarter under review as 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 drive channel expansion.

"All these have resulted in a consistent increase in footfalls across its retail outlets, along with growth seen via e-commerce platforms and expansion drive in smaller towns in Tier 3-5," the company said in a post earning statement.

Total expenses were at Rs 575.44 crore as against Rs 440.72 crore a year ago.

Bata India MD and CEO Gunjan Shah said:"Along with channel expansion initiatives, we continued our strong focus on cost-savings measures across our network, controlling discretionary spends and enhancing productivity. These measures have laid the foundation that will help us capture the emerging consumer demand efficiently."

Innovation via agile product creation, introducing new emerging digital channels, expansion in tier 3-5 towns, and productivity enhancement will continue to be a priority along with the safety of our customers and employees through a robust vaccination drive, he added.

Over the outlook, the company said: "Despite the prevailing uncertainties, we are looking forward to the forthcoming festive season and onwards with cautious optimism".

Shares of Bata India on Wednesday settled at Rs 2,036.05 apiece on BSE, down 0.44 per cent from the previous close.