Bata India Ltd witnessed a 38 percent decline in net profit to Rs 34 crore ($4 million) for the September quarter of financial year 2024, as against Rs 55 crore reported in the year-ago period.
The company’s revenue for the quarter was down by 1 percent at Rs 819 crore, as against Rs 830 crore in the year-ago quarter.
Commenting on the results, Gunjan Shah, managing director CEO of Bata India Ltd in a statement said, “Despite navigating through short-term demand headwinds in the quarter gone by, our focus on efficiency and productivity was reflected in robust operating profit margin growth. Prudent expansion of our Retail Network and marketing investments continues to be our key strategy.”
“We remain focused on cost efficiency across all operations including manufacturing facilities and optimizing our resources. In line with our strategy of sustainable profitable growth, we continue to expand across tiers in capital efficient manner, digital channels and make investments in elevating customer experience & brand marketing,” Shah added.
During the quarter, Bata opened 30 stores in close to 25 cities, with franchise & shop-in-shop network consisting over 39 percent. It also renovated 54 stores during the period and launched Sneaker Studio in 612 stores.
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