Bata India’s Q2 profit margin has increased 47% to Rs 55 crore, while net sales increased 35% to Rs 830 million
- ByStartupStory | November 12, 2022
Leading shoemaker Bata India recorded a 47.44% increase in its total net profit to Rs 54.82 crore in the second quarter ended September 2022, aided by higher shop footfalls.
Bata India Ltd disclosed a net profit of Rs 37.18 crore in the July-September quarter a year ago in a BSE filing
Its income from operations in the current quarter was Rs 829.75 crore, up 35.11 percent from Rs 614.12 crore in the previous quarter of FY22.
In the September quarter, Bata India’s total expenses were Rs 769.56 crore, a 33.73 percent growth.
”Despite tough operating environment and significant material inflation, the company managed to drive broad volume driven revenue growths across business channels of retail/franchise/distribution/e-comm,” Bata India mentioned in its earnings statement.
Bata’s distribution chain expanded to over 1,100 municipalities in the September quarter. During the quarter, it also reached its “highest revenue” of Rs 95 crore, accounting for 11% of total sales.
Gunjan Shah, MD, and CEO of Bata India claimed that the upcoming holiday season and strong customer emotions have resulted in increasing footfalls. “Our continued improvement in customer experience and engagement has reflected in our ever-highest net promoter score,” he remarked.According to Shah, sneakers have continued to drive momentum and growth across industries. However, he acknowledged that there has been sluggishness in the mass categories due to inflationary pressure.
“Further, management is keeping a close eye on pricing trends to ensure timely corrective actions,” he added.
Bata India’s stock closed at Rs 1,779.20 on the BSE on Thursday, down 1.77 percent from the previous close.
Follow Startup Story
Related Posts
