Bata India Q3 net profit surges 51 percent to Rs 108 crore
Footwear major Bata India saw its net profit surge 51 percent to Rs 108 crore ($15.3 million) during the third quarter ended December 2018 as against Rs 68 crore it had reported in the corresponding quarter last fiscal.
The company’s revenue also rose 16 percent to Rs 779 crore on the back of robust festive sales coupled with expansion of its new red-concept stores. It had reported sales of Rs 674 crore in the quarter ended December 2017.
Bata added multiple new red-concept stores and also renovated several of its existing stores during the October-December period. It also signed Bollywood actor Sushant Singh Rajput to endorse the brand’s men's casual collection
Commenting on the results, Sandeep Kataria CEO Bata India Limited in a statement said, “Bata has had a buoyant and exciting quarter which is evident in the numbers. We've been investing in creating an international shopping experience to delight our customers through the launch of our new red-concept stores. We have also rolled out a full omnichannel consumer-facing technology suite after successful testing that has been received well by consumers.”
“Our strategy to use youth icons to pull in young buyers and push our key categories with refreshed collections has worked well and has yielded positive results,” he added.
For the financial year 2017-18, Bata’s net profit was at Rs 224 crore while its revenue stood at Rs 2,636 crore. Bata India is the largest footwear retailer in the country, offering footwear, accessories, and bags. It retails in over 1,300 Bata stores, on bata.in and in thousands of multi-brand footwear dealer stores pan-India.
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