Bata India Q4 results: Net jumps over two-fold to Rs 63 cr; net sales up 13% to Rs 665 cr

Revenue from operations increased 12.77% to Rs 665.24 crore during the quarter under review

AgenciesUpdated: Wednesday, May 25, 2022, 09:34 PM IST
article-image
Bata India had posted a net profit of Rs 29.47 crore in the January-March quarter a year ago, the company said in a regulatory filing. /Representative image |

Bata India Ltd on Wednesday reported over two-fold increase in its consolidated net profit at Rs 62.96 crore for the fourth quarter ended March 31, 2022 helped by robust sales.

The company had posted a net profit of Rs 29.47 crore in the January-March quarter a year ago, Bata India said in a regulatory filing.

Its revenue from operations increased 12.77 percent to Rs 665.24 crore during the quarter under review, as against Rs 589.90 crore in the corresponding quarter of 2020-21.

''The company continued the focus on key thrust areas of franchise & MBO expansion, consumer-relevant communication, portfolio casualisation 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,'' said Bata India in its earnings statement.

This has resulted in revenue for the quarter staying in line with pre-pandemic levels for a second consecutive quarter, despite Omicron-related disruptions in the initial part of the quarter.

Bata India's total expenses were at Rs 599.39 crore, up 6.29 percent in Q4/FY 2021-22, as against Rs 563.90 crore in the January-March quarter of the previous fiscal.

''In the last two quarters, we witnessed significant recovery in demand in the backdrop of improvement in consumer sentiments and deeper understanding of the pandemic, availability of vaccines and faster easing of restrictions. We kept expanding our reach through new franchise stores and multi-brand outlets,'' Bata India MD and CEO Gunjan Shah said.

Bata has opened 22 new Franchise stores taking the total number over 300, expanded availability via distribution channels that continued to scale up to over 1,000 towns, he added.

''We have enhanced our portfolio in the casual & fashion footwear section across categories. Sneakers led the growth recovery in the quarter, while formal & fashion also recovered significantly,'' Shah said.

For the fiscal ended March 2022, Bata India's consolidated net profit was at Rs 102.99 crore. It had reported a net loss of Rs 89.31 crore in fiscal year 2020-21.

Its revenue from operations was at Rs 2,387.71 crore in 2021-22, 39.75 percent higher than Rs 1,708.48 crore in the year-ago period.

''Bata India has had a robust performance and is on a sound trajectory ahead. Given its focus on newer collection, expansion through all channels and omni-channel in particular, Bata India is well poised for the future. Its new business model and focus is reflected in the quick retrieval of business to pre pandemic levels and further growth,'' said Bata India Chairman Ashwani Windlass.

The Board of the company in a meeting held on Wednesday recommended a dividend of 1,090 per cent, which is Rs 54.5 per equity share of Rs 5 each fully paid-up of the company, which includes a one-time special dividend of Rs 50.5, for the year ended March 31, 2022.

Shares of Bata India Ltd settled at Rs 1,746.90 on BSE, down 2 percent from the previous close.

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Ashok Gehlot invites Adani at Invest Rajasthan Summit, BJP calls it sign of revolt within Congress

Ashok Gehlot invites Adani at Invest Rajasthan Summit, BJP calls it sign of revolt within Congress

Xiaomi isn’t leaving India for Pakistan, denies reports about moving after action by authorities

Xiaomi isn’t leaving India for Pakistan, denies reports about moving after action by authorities

Isha Ambani Announces Opening of India’s First Multi-Disciplinary Cultural Centre in Mumbai

Isha Ambani Announces Opening of
India’s First Multi-Disciplinary Cultural Centre in Mumbai

Sensex slips 236 points at opening, Nifty fell 69 points in early trade

Sensex slips 236 points at opening, Nifty fell 69 points in early trade

Rupee falls 16 paise to all-time low of 82.33 against US dollar in early trade

Rupee falls 16 paise to all-time low of 82.33 against US dollar in early trade