Bata India sees profit increase 47% in FY23 Q2

By

Isabelle Crossley

Published
Nov 11, 2022

Bata India saw its consolidated net profit increase by 47.44% year-on-year in the second quarter of the 2023 financial year. The footwear brand witnessed increased in-store footfalls and double digit revenue growth in the quarter. 

The business’ consolidated net profit totalled Rs 54.82 crore in FY23 Q2, up from Rs 37.18 crore in the same time period a year earlier, ET Bureau reported. Bata India’s revenue from operations in the quarter totalled Rs 829.75 crore, which represents a 35.11% year-on-year increase from its total of Rs 614.12 crore in the second quarter of the 2022 fiscal. 
 
“Despite [a] tough operating environment and significant material inflation, the company managed to drive broad volume driven revenue growths across business channels of retail/ franchise/ distribution/ e-commerce,” said Bata India in its statement of earnings for the quarter, the Press Trust of India reported. 

Bata India’s total expenses for the quarter were up by 33.73% year-on-year to total Rs 769.56 crore due to factors including inflation and expansion. The business achieved its highest ever net promoter score in the September quarter, according to Bata India’s managing director and CEO Gunjan Shah, the Press Trust of India reported. 
 
The business also has high hopes for the winter festive season and expects categories like sneakers to continue to drive growth. Inflation, however, does continue to provide a challenge for the business, according to Shah.