Bata India Q2 net profit rises 53 percent to Rs 52 crore

Footwear major Bata India Ltd reported a 53 percent rise in consolidated net profit to Rs 52 crore ($6.2 million) for the second quarter ended September 2024, as against Rs 34 crore in the year-ago period.

The company’s revenue for the quarter rose by 2 percent to Rs 837 crore, as against Rs 819 crore in the corresponding quarter of the previous fiscal year.

For the July-September quarter, the company’s total expenses rose by 5 percent year-on-year to Rs 785 crore.

Commenting on the results, Gunjan Shah, managing director CEO of Bata India in a statement said, “Despite continuing market headwinds and subdued consumption, we saw some recovery in our growth trajectory through the quarter backed by focused execution of strategic initiatives. We are seeing strong validation of our premiumisation strategy across channels, with premium products showing robust growth and increased contribution to our revenue mix.”

“We continue to maintain a balanced approach between managing near-term challenges and investing in long-term growth drivers. We are optimistic about consumption recovery in the coming quarters, backed by festive season momentum and our strong market positioning,” he added.

During the quarter, the company opened stores for its brands Power, Hush Puppies, and Floatz among others taking its store count to 1955.