Bata India posts Q2 net profit of Rs 37 crore

By

Maverick Martins

Published
Nov 4, 2021

Shoemaker Bata India reported a consolidated net profit of Rs 37 crore ($5 million) for the second quarter ended September 2021, as against a net loss of Rs 44 crore in the year-ago period.
 

The company’s revenue for the quarter rose to 614 crore, as compared to Rs 368 crore in the corresponding quarter last fiscal.
 
Bata India’s total expenses were at Rs 575 crore, as against Rs 441 crore a year ago.

Commenting on the Q2 results, Bata India managing director and CEO, Gunjan Shah, in a statement 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. Despite the prevailing uncertainties, we are looking forward to the forthcoming festive season and onwards with cautious optimism,” he added.
 
During the July-September quarter, Bata continued with its retail expansion drive in tier 3-5 cities by opening new franchise stores to take its overall store count to over 270.