Bata India Q4 net profit down 57 percent to Rs 38 crore

By

Maverick Martins

Published
May 25, 2020

Shoemaker Bata India Ltd reported a 57 percent slump in consolidated net profit at Rs 38 crore ($5 million) for the fourth quarter ended March 2020, as against Rs 89 crore it had reported in the year-ago period.
 

The company’s revenue declined 9 percent to Rs 621 crore during the quarter under review, as against Rs 680 crore in the corresponding quarter of last fiscal.
 
Bata attributed the decline in net profit and sales to severe disruption in operations caused by lockdown due to the Covid-19 pandemic.

For fiscal year 2019-20, Bata India's net profit was 329 crore, while its revenue from operations was Rs 3,056 crore.
 
Commenting on the results, Bata India CEO, Sandeep Kataria, in a statement said: “It is gratifying that despite the closure of our retail outlets due to the lockdown, we were able to close the year with turnover and profit growth. This was possible on account of focus on diversification of product portfolio, consumer-centric campaigns, new and franchise store openings, non-retail, and digital businesses.
 
“Given the ongoing crisis, we are expanding our e-commerce footprint by ramping our presence in online marketplaces allowing delivery in over 1,300 cities, rolling out home delivery over 900 stores and giving customers the option to shop from homes via WhatsApp chat with our neighbourhood stores,” Kataria added.
 
Bata has a retail network of over 1,415 stores in 450 towns in the country.