Footwear manufacturer Bata India reported a loss before tax in its consolidated financial results of Rs 116.6 crore in FY 2021 as against profit before tax (PBT) of Rs 487.2 in FY 2020. In Q4 FY 2021, the company reported PBT of Rs 40.3 crore as against Rs 58.1 crore in Q4 FY 2020.
The company reported a loss after tax of Rs 89.3 crore in FY 2021 as against profit after tax of Rs 328.9 crore in FY 2020. However, the profit of the company for Q4 FY2021 stood at Rs 29.4 crore.
Due to the COVID-19 pandemic, the company saw a decline in income as well. In FY 2021, the consolidated total income was at Rs 1,802.5 crore as against Rs 3,124.7 crore in FY 2020.
The standalone loss for FY 2021 was at Rs 90.2 crore as against profit of Rs 326.9 crore.
While the third quarter ended on a comparatively stronger note because of festive sales, the Q4 results indicated steady and consistent growth in line with the quarter's seasonality, the company stated,
Sandeep Kataria, CEO, Bata said, “The Q4 results are satisfactory for us, considering Q3 sales have historically been always better because of the festive season. We continued our march towards recovery via our channel expansion efforts via Franchising, distribution and marketplaces routes.”
“As the economy gained pace and offices started re-opening, we rolled out our first campaign of the year showcasing ‘Relaxed Workwear’ collection offering the best of comfort technologies across Bata, Hush Puppies, Bata Red Label, Comfit & Naturalizer brands.”
Bata India further strengthened its ecommerce and omni-channel facilities to cover more pin codes across India.
It continues to expand its retail network in tier 3-5 towns via franchisee route by opening 10 new franchisee stores and appointing new distributors to serve multi-brand stores.