On Monday, November 4, Bata India Limited released the results for the July–September quarter. According to the company’s BSE report on Monday, net earnings increased 52.89 per cent to ₹51.97 crore in the second quarter from ₹33.99 crore in the same quarter last year.
Following Monday’s trading session, Bata India Ltd.’s shares ended the day 1.47 per cent lower at ₹1,336.90, down from ₹1,356.90 at the previous market close. The second-quarter results were made public by the corporation after market hours.
Additionally, the company’s operating revenue increased by 2.2% to ₹837.14 crore from ₹819.11 crore the previous year.
The quarterly expenses of the footwear and accessory manufacturer were up 4.9% to ₹784.55 crore from ₹747.41 crore during the same period last year.
“Despite continuing market headwinds and subdued consumption, we saw some recovery in our growth trajectory through the quarter backed by focused execution of strategic initiatives,” said Gunjan Shah, managing director and the chief executive officer of Bata India, in an official statement.
“We are seeing strong validation of our premiumisation strategy across channels, with premium products showing robust growth and increased contribution to our revenue mix. Our Brand stories connected well with a targeted audience,” said the executive.
Regarding Bata India’s future, Shah stated that the business’s plans to expand through franchise stores in Tier 3-5 areas, along with our strong online presence, are enabling the company to take advantage of new growth opportunities.
“Our conscious efforts on Franchise model expansion are showing good results. Cost efficiency remains a cornerstone across all operations including manufacturing facilities,” said the executive.
“We continue to maintain a balanced approach between managing near-term challenges and investing in long-term growth drivers. We are optimistic about consumption recovery in the coming quarters, backed by festive season momentum and our strong market positioning,” said Shah in the official statement.
The document claims that the footwear and accessory manufacturer served about 250,000 people per day in 2023 and had over 1,900 outlets. Each year, Bata India sells around 50 million pairs.
