Bata India revenue up 10% to 743 crore, profit jumps 20% to 60 crore
European footwear major’s Indian subsidiary, Bata India reported a growth of 10.13 per cent turnover to Rs 743.1 crore (approx $116.7 million) in the first quarter of the financial year 2016-17 as against Rs 674.7 crore (approx $105.8 million) in the year ago period with a 19.60 per cent increase in profit which stood at Rs 60.4 crore (approx $ 9.5 million).
The company had posted a net profit of Rs 50.5 crore during the same period previous fiscal, Bata India said in a statement.
The company launched the SS 2017 collection which included this quarter which included international styles for women like Espadrilles and the exciting Bata Insolia range. Bata also added 40 stores across India in the last quarter which resulted in 15% growth in retail turnover.
The company also saw a gross margin improvement of 1% through introduction of value added products and change in the product mix.
Rajeev Gopalakrishnan, President, South Asia, Bata, said, “We at Bata India are thoroughly excited to continue our momentum in our evolution to a contemporary lifestyle brand. We took strategic steps in the last quarter like opening of 40 new stores, nationwide launch of Bata Insolia range of comfortable heels for women and a grand fashion event, a first for India. All these initiatives generated additional footfalls and resulted in higher same store sales and better margins.”
Bata is a leading footwear brand in Indian with over 1290 stores across India and thousands of multi-brand footwear dealer stores pan-India offering footwear, accessories and bags across brands like Bata, Hush Puppies, Naturalizer, Power, Marie Claire, Weinbrenner, North Star, Scholl, Bata Comfit and Bubblegummers to name a few.
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