Bata second quarter net profit jumps 30 percent to Rs 56 crore

By

Maverick Martins

Published
Nov 5, 2018

Footwear major Bata India witnessed a 30 percent surge in its net profit to Rs 56 crore (approx $7.7 million) for the second quarter ended September 30, 2018, in comparison to Rs 43 crore it had posted in the corresponding quarter a year ago.

Bata’s revenue also jumped 15 percent to Rs 688 crore during the quarter as compared to Rs 602 crore in the corresponding quarter last fiscal.
 
The company attributed its strong performance during the quarter to its marketing and promotional campaigns featuring its brand ambassadors. Bata is optimistic of a strong performance during the upcoming festival season and will be expanding the retail footprint for its newly launched ‘Red Angela’ stores.

Commenting on the results, Sandeep Kataria, Chief Executive Officer, Bata India in a statement said, “We have built up growth momentum in Q2 with portfolio refresh across categories, and we hope to continue it as we get into the peak festival season. Our strategy of using youth icons to push our key categories has yielded positive results.”
 
“Continuing our commitment to provide a world-class shopping experience to our customers, we are expanding the footprint of the ‘Red Angela’ stores, which are driving additional footfalls as well as improving the brand saliency,” he added.
 
Bata is planning a massive expansion in India during the current financial year and will be opening 150 stores across the country with an investment of Rs 100 crore ($14.6 million).
 
Bata India is the largest footwear retailer in India and retails in over 1,290 Bata stores, on bata.in and in thousands of multi-brand footwear dealer stores pan-India.