On a consolidated basis, the footwear major's consolidated net profit surged 173.73% to Rs 72.32 crore on 36.66% rise in net sales to Rs 841.30 crore in Q3 December 2021 over Q3 December 2020.
Profit before tax surged 169.19% to Rs 97.26 crore in Q3 December 2021 over Q3 December 2020.Revenue growth was backed by improved sales during festive season and re-opening of economy.
The company said it continued the focus on key thrust areas of franchise & MBO (multi-brand outlets) expansion, consumer relevant communication, portfolio casualization and digital footprint expansion. All these have resulted in increase in footfalls across retail outlets, along with significant growth driven via e-commerce platforms and expansion in Tier 3-5 towns. This resulted in revenue moving ahead of pre-pandemic levels.
Despite the uncertainties because of 3rd wave towards the end of quarter, the company is optimistically looking forward to faster recovery post the wave subsiding.
Bata continued with its retail expansion drive in tier 3-5 cities through franchise route, taking the overall tally to 285+ as on date. 25 all new women stores were added. The company continued to expand distribution business by adding 50 towns to cross presence across 1000 towns.
Sales through digitally enabled channels continued its momentum driven by 3 levers - D2C bata.in e-store, marketplaces and omnichannel home delivery and contributed about Rs 90 crore to total sales which was more than double of pre-covid levels.
Gunjan Shah, MD and CEO - Bata India, stated: "In this quarter, we saw significant improvement in customer sentiment. Additionally, we kept expanding our reach through new franchise stores & multi-brand outlets. We opened 34 new Franchise stores, expanded availability via Distribution channel that scaled up to 1000+ towns. We have enhanced our portfolio in casual category led by Hush Puppies, Bata Red Label and renewed sneaker category with North Star & Power styles. With consumers preferring sneakers, we strengthened our sneaker proposition by rolling out our new 'Sneaker Studios' to display upto 300 styles, 9 brands in stores & on bata.in, our first sneakers campaign and expanding availability across all stores. Sneakers thus led the growth recovery in the quarter while formal & fashion also recovered significantly. We continued upshift in marketing investments with new 'Surprisingly Bata Festive' & 'Unlimited Sneakers at Bata' campaigns which elevated our consumer connect. Simultaneously, we continued our strong focus on cost-savings measures across our network, controlling discretionary spends and enhancing productivity. Innovation via agile product creation, scaling up digital channels, expansion in Tier 3-5 towns, and productivity enhancement will continue to be a priority along with safety of our employees and customers."
Bata India is the largest footwear retailer in India, offering footwear, accessories, and bags across brands such as Bata, Bata Red Label, Hush Puppies, Naturalizer, Power, Marie Claire, Weinbrenner, North Star, Scholl, Bata Comfit and Bubble gummers, to name a few. It retails in more than 1700 Bata own, shop-in-shops and franchisee stores, on bata.in and in thousands of multi-brand footwear dealer stores pan-India.
Shares of Bata India were down 0.72% at Rs 1869.45.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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