Bata India Q3 net profit jumps 15 percent to Rs 83 crore

By

Maverick Martins

Published
Feb 14, 2023

Footwear manufacturer, Bata India witnessed a 15 percent rise in net profit to Rs 83 crore ($10.1 million), as against Rs 72 crore reported in the same period a year ago.

The company’s revenue for the quarter grew by 7 percent to Rs 900 crore, as against Rs 841 crore reported in the corresponding period of the previous fiscal year.

Commenting on the results, Gunjan Shah, managing director CEO of Bata India in a statement said, “Continuous focus on refreshing product portfolio with our strategy of casualization and offering premium fashionable products reflected in overall ASP growth and expansion in share of our premium category brands like Hush Puppies, Marie Claire, Red Label, etc, that was backed by festivity and wedding season in the quarter.”

“We continue to drive various cost optimization initiatives across the value chain. In the mass categories, the demand remains sluggish due to the inflationary pressures. We have continued investments in marketing and technology to fuel accelerated momentum,” Shah added.

During the quarter, Bata expanded its stores through franchises and shop-in-shops to take its retail footprint to over 2,000 stores across the country.