Footwear major Bata India Limited on Tuesday announced results for the quarter ended 31 December 2022. The company posted Rs 83.19 crore in consolidated net profit in the Q3, up 14.86 per cent from Rs 72.32 crore in the same period last fiscal.
Bata’s revenue from operations for the quarter stood at Rs 900.2 crore (a growth of 7 per cent over quarter ended December’21). The Operating Profit stood at Rs 102.1 crore, a growth of 22 per cent over the quarter ended December 2021.
In a regulatory filing, Bata said its total expenses in Q3 stood at Rs 798.04 crore, rising from Rs 757.6 crore in the corresponding quarter in the last fiscal.
In a statement, Gunjan Shah, MD and CEO – Bata India Limited, said, “Continuous focus on refreshing product portfolio with our strategy of casualization and offering premium fashionable products reflected in overall ASP growth and expansion in share of our premium category brands like Hush Puppies, Marie Claire, Red Label, etc., that was backed by festivity and wedding season in the quarter.”
Bata undertook store expansion through Franchise & SIS and the company’s footprint crossed 2000 stores milestone in the Q3 FY23.
“We also saw encouraging demand for our comfort and casual wear ranges of Bata Comfit, Floatz, etc. The quarter also marks highest ever addition of Franchise stores with total footprint crossing the 2000+ milestone for the first time,” the Bata CEO added.
The footwear manufacturer also said that it had stepped-up Infrastructure to enhance productivity and efficiencies in Supply Chain and continued implementation of cost-savings measures across Operations and Manufacturing in the quarter.
