Published
Nov 11, 2020
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Bata India posts Q2 net loss of Rs 44 crore

Published
Nov 11, 2020

Footwear major Bata India reported a consolidated net loss of Rs 44 crore ($6 million) for the quarter ending September 30, 2020, as against a net profit of Rs 71 crore in the year-ago period.
 

Bata India posts Q2 net loss of Rs 44 crore - Bata


The company’s revenue for the quarter declined by 49 percent to Rs 368 crore, as against Rs 722 crore it reported in the corresponding period last year.
 
Commenting on the results, Sandeep Kataria, CEO of Bata India Limited, in a statement said: "We moved from revival to revitalization phase of our strategy. In this quarter, as all the stores opened-up gradually, we continued keeping the safety of our customers and employees in mind. We focused on scaling up our presence in online marketplaces with an expanded range, scaling our own channel bata.in and our new digital channels to reach out to a wider customer base.”

“On the physical stores, we expanded our reach in smaller towns by opening our 200th franchise store, ensuring availability in multi-brand outlets via distribution channel and also optimizing our network in the cities,” he added.
 
Bata has a retail network of over 1,415 stores in 450 towns in the country and also sells online on all leading e-commerce platforms.

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