Bata India Announces Q2 Results; Strides Positively
The net profit stood at Rs. 511 million as against a net profit of Rs. 370 million in the quarter that ended September 2021, showing a growth of 38 per cent
Footwear major Bata India Limited today announced results for the quarter that ended 30th September 2022. Revenue from operations for the quarter stood at Rs. 8,297 million (a growth of 35 per cent) over the quarter that ended September’21) showcasing consistent improvements across channels. The net profit stood at Rs. 511 million as against a net profit of Rs. 370 million in the quarter that ended September 2021, showing a growth of 38 per cent.
Key Highlights for the quarter:
• 27 stores were renovated during the quarter.
• Net Promoter Score (NPS), feedback for loyalty for all offline and online channels that Bata services, improved to 73 in the quarter.
• Taking a conservative approach, the company made provisions for a few pending legal cases and old deposits amounting to 110 Mn.
• Continued growth of sneaker category that led the growth recovery Vs rest of other categories. Sneaker Studio was implemented in 250 stores across the country.
• We opened 30 new Franchise stores taking the total number to 350+
• Distribution channel continued to scale up to 1100+ towns.
• Digital business achieved its highest revenue of INR 950 million during the quarter.
• Sales through digitally enabled channels continued its momentum and contributed 11% of total sales which is 125% of the September 2021 quarter.
Despite 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-comm. Gunjan Shah, MD and CEO – Bata India Limited, stated, “The festivity around the corner and positive customer sentiments reflected in increased footfalls. Our continued improvement in Customer Experience and engagement has reflected in ever highest Net Promoter Score.”
