Bata India Q4 net profit down 23 percent to Rs 29 crore
Footwear major Bata India Ltd reported a 23 percent fall in consolidated net profit at Rs 29 crore ($4 million) for the fourth quarter ended March 31, as against a net profit of Rs 38 crore it posted in the year-ago period.
The company’s revenue for the quarter was down 590 crore, as against Rs 621 crore it reported in the corresponding period of the previous fiscal year.
For the fiscal year ended March 31, 2021, Bata India reported a net loss of Rs 89 crore as compared to net profit of Rs 33 crore in the previous year, while its revenue for the fiscal was down Rs 1,708 crore as compared to Rs 3,056 crore in 2019-20.
Commenting on the results, Bata CEO, Sandeep Kataria, in a statement said: “The Q4 results are satisfactory for us, considering Q3 sales have historically been always better because of the festive season. We continued our march towards recovery via our channel expansion efforts via franchising, distribution, and marketplaces routes,” he said.
Bata is one of India’s leading footwear firm with a retail network of over 1,415 stores in 450 towns across India and sells online on all leading e-commerce platforms.
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