Footwear retailer Bata India Ltd said on Wednesday its consolidated net profit in the March quarter rose 113% to ₹62.9 crores, vs. ₹29.4 crores reported a year earlier. Operating revenue increased by 12.7% to ₹665.2 crores, from ₹589 crores a year earlier. Expenses increased by 6.2%.
The company, which retails in more than 1,700 stores, has recommended a dividend of ₹54.5 per share for FY22, which includes a one-time special dividend of ₹50.50 per share, subject to shareholder approval.
The latter part of the quarter saw a “significant rebound in growth,” Bata said. As a result, quarterly revenue was in line with pre-pandemic levels.
“The company continued to focus on the key areas of franchise and multi-brand outlet expansion, consumer-friendly communication, portfolio insecurity and digital footprint expansion. led to increased footfall at the outlets, as well as significant growth driven by e-commerce platforms and expansion into Tier 3-5 cities. This helped revenue in the quarter stay in line with pre-pandemic levels for a second consecutive quarter, despite Omicron-related disruptions in the first part of the quarter. This was offset in the latter part of the quarter where we saw a significant rebound in growth.” Bata said in a statement.
Bata opened 22 new franchise stores during the quarter, bringing the number to more than 300.
“Bata India has delivered strong performance and is on a good trajectory. Given its focus on new collections, expansion across all channels and omnichannel in particular, Bata India is well positioned for the future. new business model and its direction is reflected in the rapid resumption of business to pre-pandemic levels and continued growth,” said Ashwani Windlass, President of Bata India.
The company expanded availability through distribution channels that continued to expand to more than 1,000 cities, added managing director and CEO Gunjan Shah.
“We have improved our portfolio in the casual and fashion footwear section across all categories. Sneakers led the recovery in growth during the quarter, while formal and fashion also recovered significantly,” he said. The company has focused on cost-cutting measures across its network, controlling discretionary spending, improving productivity and premiumization in the face of volatile inflation, Shah said.
Bata India sells shoes, accessories and bags from 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. some. It is retailed in over 1,700 Bata-owned stores, franchise stores and outlets, bata.in and thousands of multi-brand shoe stores across India.