Bata India Limited reported its financial results for the quarter ending June 30, 2024. Revenue from operations for the quarter stood at Rs 9,446 million, compared to Rs 9,581 million for Q1FY24. Net profit for the quarter was Rs 1,744 million.
The company experienced a one-time gain on the sale of property amounting to Rs 1,340 million and incurred a one-time expenditure of Rs 147 million towards investments in technology. Bata has declared an interim dividend of Rs 10 per share, totaling Rs 1,285.28 million.
Key Highlights:
- Expansion of store network to 1,916 (company-owned and franchise).
- Significant growth in digital sales.
- Success in the casual footwear segment, led by the Power sneaker category. Expansion of Sneaker Studios and Floatz Kiosk.
- Renovation of 37 stores, focusing on new styles and technology.
- Launch of the “Try and Fly” campaign to attract customers.
Speaking on the Q1FY25 performance, Gunjan Shah, MD and CEO – Bata India Limited, stated, “Bata India navigated well through the slugging consumption environment further accentuated due to the elections and extreme heat wave in the last quarter. We sustained our gross margin with our premiumisation strategy while continuing investments in marketing and technology platforms. We added 33 Franchise Stores in the quarter, primarily in Tier 3 – 5 towns to cater the demand for branded products and achieve better returns on capital. Bata also launched its 2nd Power EBO in Delhi. Along with cautious control on costs and focus on efficiency and productivity, we continued to manage our inventory while having strong instore availability of fresh merchandise in anticipation of festive season driven consumption uptick.”
