Bata India posts Q3 net profit of Rs 72 crore
Bata India reported a 177 percent increase in consolidated net profit at Rs 72 crore ($9.7 million) for the December quarter 2021, as against Rs 27 crore it posted in the year-ago period.
The company’s revenue for the quarter rose to Rs 841 crore, as against Rs 616 crore it reported in the corresponding period of the previous fiscal year.
Bata’s expenses during the quarter were Rs 758 crore, as against Rs 588 crore it reported in the year-ago period.
Commenting on the Q3 results, Gunjan Shah, managing director of Bata India Limited in a statement said, “In this quarter, we saw significant improvement in customer sentiment. Additionally, we kept expanding our reach through new franchise stores and multi-brand outlets. We opened 34 new franchise stores, expanded availability via distribution channel that scaled up to over 1,000 towns.”
“Innovation via agile product creation, scaling up digital channels, expansion in tier 3-5 towns, and productivity enhancement will continue to be a priority along with safety of our employees and customers. Owing to decline in Covid cases and vaccine rollout for 15 to 18 age group, we optimistically look forward to quick rebound in consumer sentiments,” he added.
Bata is one of India’s leading footwear firm with a retail network of over 1,500 stores across India and sells online on all leading e-commerce platforms.
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