Footwear maker Bata India reported a 3 percent decline in its net profit to Rs 64 crore ($7.6 million) for the fourth quarter ended March 31, as against Rs 66 crore in the year ago quarter.
The company’s revenue for the quarter rose by 2 percent to Rs 798 crore, as against Rs 779 crore in the corresponding quarter of the previous fiscal year.
For the full financial year ended on March 31, 2024, Bata India reported a net profit Rs 263 with a revenue Rs 3,479 crore.
Commenting on the results, Gunjan Shah, managing director CEO at Bata India in a statement said, “Bata India navigated well through the unforeseen sluggishness in the market driving towards sustainable growth led by brands backed by significant investments in marketing and technology. Our strategies helped us defending margins.”
“We are further bolstering our offering with international tie-ups, such as Hush Puppies and Nine West which saw a significant higher ASP driving premiumization. We are optimistic of demand revival going forward,” she added.
During the quarter, Bata added 24 franchise stores in tier 3, 4, and 5 towns to expand its retail network to 1,329 stores.
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