Team News Riveting
Mumbai, August 11
Footwear major Bata India Limited today announced its quarterly financial results.
Revenue from Operations for the quarter ended June 30, 2022 was Rs 9,430 million as against 2,670 million in quarter ended June 30, 2021, its highest ever quarterly sales, showcasing significant momentum across all sales channels. The Company clocked a profit before tax of Rs 1,597 million as against the Loss before tax of Rs. (949) million in the quarter ended June 30, 2021.
A direct outcome of the continued focus on key thrust areas of franchise & MBO expansion, consumer relevant communication, portfolio casualisation and digital footprint expansion, was reflected in the quarterly sales reaching lifetime high. With continuous increase in portfolio freshness and consumer/marketing investments, footfalls across retail outlets saw a significant growth supported by sales through digital channels and strong expansion of footprint across EBOs and MBOs.
The Company continued to optimize cost structures and drive efficiencies across its value chain. All the cost-focused initiatives, which have been put in place across multiple work streams are showing increasing impact quarter on quarter.
Gunjan Shah, MD and CEO of Bata India Limited, said: “Over the last three quarters, we are witnessing significant uptick in demand with rising demand for fashionable, trendy yet functional and comfortable footwear. The evolution in consumer mindset including brand consciousness was catered by our enhanced offerings in casual segment across categories. Our continuous investments behind marketing campaigns continue to help strengthen our already solid brand recall.”
The company continued to expand its reach through new franchise stores and multi-brand outlets, he said, adding that Bata India opened 20+ new Franchise stores taking the total number 320+ with a strong future pipeline, expanded availability via Distribution channel that continued to scale up close to 1100 towns. Sneakers strengthened momentum and continued driving growths across businesses. Digital footprint through our omnichannel e-commerce revenue streams gained significant momentum in the quarter going by.
“We continue being optimistic on momentum going ahead driven by Innovation via agile product creation, scaling up digital channels, expansion in Tier 3-5 towns, and productivity enhancement along with investments in our brands & stores,” Shah said.
Bata has held a unique place in the hearts of Indians for more than 85 years. Probably the only footwear brand that offers footwear and accessories for the entire family, Bata has redefined the modern footwear industry in India. It has established a leadership position in the industry and is the most-trusted name in branded footwear. It sold more than 47 million pairs of footwear and served 120,000-plus customers almost every day in 2019.
