Footwear retailer Bata India Ltd on Wednesday mentioned its consolidated web revenue within the March quarter rose 113% to ₹62.9 crore, up from ₹29.4 crore reported a yr earlier. Income from operations rose 12.7% to ₹665.2 crore, rising from ₹589 crore a yr earlier. Bills had been up 6.2%.
The corporate that retails through over 1,700 shops beneficial a dividend of ₹54.5 per fairness share for FY22, which incorporates one-time particular dividend of ₹50.50 per share, topic to approval by shareholders.
The latter a part of the quarter noticed a “important rebound in progress,” Bata mentioned. Because of this, quarterly revenues had been consistent with pre-pandemic ranges.
“The corporate continued the concentrate on key thrust areas of franchise and multi-brand outlet enlargement, consumer-relevant communication, portfolio casualization and digital footprint enlargement. All these have resulted in a rise in footfalls throughout shops, together with important progress pushed through e-commerce platforms and enlargement in Tier 3-5 cities. This resulted in income for the quarter staying consistent with pre-pandemic ranges for a second consecutive quarter, regardless of Omicron-related disruptions within the preliminary a part of the quarter. This was offset within the latter a part of the quarter the place we noticed important rebound on progress,” Bata mentioned in a press release.
Bata opened 22 new franchise-led shops throughout the quarter, taking the depend to over 300.
“Bata India has had a strong efficiency and is on a sound trajectory forward. Given its concentrate on newer assortment, enlargement by means of all channels and omni-channel particularly, Bata India is well-poised for the long run. Its new enterprise mannequin and focus is mirrored within the fast retrieval of enterprise to pre pandemic ranges and additional progress,” mentioned Ashwani Windlass, chairman, Bata India.
The corporate expanded availability through distribution channels that continued to scale as much as over 1,000 cities, MD and CEO Gunjan Shah added.
“We’ve enhanced our portfolio in informal and trend footwear part throughout classes. Sneakers led the expansion restoration within the quarter whereas formal and trend additionally recovered considerably,” he mentioned. The corporate focussed on cost-savings measures throughout its community, controlling discretionary spends, enhancing productiveness and premiumization within the face of unstable inflation, mentioned Shah.
Bata India sells footwear, equipment, and baggage throughout manufacturers comparable to Bata, Bata Crimson Label, Hush Puppies, Naturalizer, Energy, Marie Claire, Weinbrenner, North Star, Scholl, Bata Comfit and Bubble Gummers, to call a couple of. It retails in additional than 1,700 Bata-owned, shop-in-shops and franchisee shops, on bata.in and in 1000’s of multi-brand footwear seller shops pan-India.
Supply: Live Mint