12 August 2022, Mumbai:
The Q1 FY23 net profit of Bata India grew by 71.82 percent to Rs 119.37 crore as the shoemaker achieved the "highest ever quarterly sales ". The company had posted a net profit of Rs 69.47 crore in the April-June quarter a year ago.
Bata revenue from operations during the quarter under review grew threefold to Rs 943.01 crore from Rs 267.04 crore in the pandemic-hit corresponding quarter of FY22.
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Bata India's total expenses increased two-fold to Rs 792.58 crore in Q1FY23 as against Rs 371.61 crore a year ago.
During the quarter, the company continued to optimize cost structures and drive efficiencies across its value chain.
Gunjan Shah, Managing Director and CEO, Bata says, over the last three quarters, Bata is witnessing a significant uptick in sales with rising demand for fashionable, trendy and comfortable footwear.
The brand opened 20-plus new franchise stores taking the total number over 320 with a strong future pipeline, expanded availability via distribution channel that continued to scale up close to 1,100 towns, adds Shah.
Simultaneously, Bata also continued to focus on driving the volumes in these inflationary times, which should show an impact in the ensuing period.
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