Bata India published its December quarter earnings on Tuesday, 8 February 2022. The company reported a nearly 3 times increase in its net profit, which reached Rs. 72.32 crores for Q3 of FY 2022.
In its BSE filing, Bata India mentioned that it witnessed a net profit of Rs. 26.41 crores during the previous year’s corresponding quarter.
Do you want to know more about Bata India’s Q3 earnings result? Keep reading, then.
Improved Earnings as Economy Reopens
Backed by increased sales during the festive season and re-opening of the economy, Bata India’s revenue from operations stood at Rs. 841.30 crores during the quarter. Meanwhile, the company’s profit before tax was Rs. 97.27 crores. Bata’s revenue from operations was Rs. 615.62 crores during the year-ago quarter.
The company’s total expenses for FY 2022 Q3 was Rs. 757.54 crores against the record of Rs. 588.10 crores during the previous year.
Regarding its improving earnings, Bata India’s MD and CEO said that it witnessed a significant upgrade in the customer segment during this quarter. In addition, the company also kept increasing its reach by opening new franchise outlets and setting up multi-brand stores.
During this quarter, Bata India opened around 34 new franchise outlets, increased product availability via a distribution channel, and moved up to over 1,000 towns.
As per the company, its sales are now featuring up at pre-COVID-19 levels. This growth is attributed to Bata India’s focus on key thrust areas of multi-brand outlets and franchise expansion. The company is also deeply focused on portfolio casualisation, digital footprint expansion and customer communication.
All these factors have resulted in an increased footfall across its stores. Bata India also witnessed significant growth driven by e-commerce platforms and development in Tier 3-5 towns.
India is currently facing economic uncertainty due to a third wave of the COVID 19 pandemic. However, Bata India is optimistic in looking forward to a faster recovery after this wave subsides. The MD and CEO of Bata India also added that this company is keen on experiencing customer rebound owing to the vaccine rollout for teenagers.
Frequently Asked Questions
How did shares of Bata India perform following its Q3 earnings report?
Following this announcement on Tuesday, shares of Bata India closed at Rs. 1,883.05 per piece on the BSE. This figure is lower by 2.01% from its previous closing value.
What was Bata India’s profit for Q3 of FY 2021?
During the December quarter of 2020, Bata India reported a profit decline of around 77.66% to reach Rs. 26.41 crores.
When was Bata incorporated?
Bata was set up in 1894 in Zlín, Czech Republic. However, the company started operating in India in 1931 under the name of Bata Shoe Company Pvt. Ltd.
Disclaimer: This blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.
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