Bata India rose 0.95% to Rs 1,682 after the footwear maker reported a consolidated net loss of Rs 69.4 crore in Q1 FY22, lower than net loss of Rs 100.8 crore posted in Q1 FY21.
Total income jumped to Rs 279.2 crore in Q1 FY22 from Rs 187.1 crore in Q1 FY21. Bata said sales across retail outlets remained largely subdued, owing to the second wave of Covid-19 infections and ensuing lockdowns. However, sales through ecommerce platforms continued to remain robust and witnessed an uptick despite the restrictions.
The company continued to strengthen its retail presence in tier 3-5 cities by opening 7 new franchise stores during the first quarter despite the lockdown, taking the overall tally to 234 franchise stores. The brand also scaled up its website and continued to reach out to its customers through hyperlocal channels - Bata Chatshop and Bata Store on Wheels, thereby making remote shopping experience more convenient.
Gunjan Shah, CEO of Bata India said, While our retail outlets were largely shut, we were able to serve our customers through alternate channels such as our website, online market places, Bata ChatShop, and Bata Store on Wheels. These channels have enabled us in minimising the overall impact of the second wave. Since the ease in lockdown, footfalls in our retail outlets have started growing, signalling strong signs of recovery."
Bata India is the largest footwear retailer in India, offering footwear, accessories and bags across brands such as Bata, Hush Puppies, Naturalizer, Power, Marie Claire, Weinbrenner, North Star, Scholl, Bata Comfit and Bubblegummers.
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