Bata India reported consolidated net loss of Rs 100.89 crore in Q1 June 2020 as compared to net profit of Rs 100.97 crore in Q1 June 2019.
Total income dropped 79.2% to Rs 187.12 crore in Q1 June 2020 over Q1 June 2019.
The announcement was made after market hours on Friday, 7 August 2020. Shares of Bata India fell 0.43% to settle at Rs 1,258.40 on Friday.
Results in Q1 June 2020 were severely impacted because of disruptions caused by the ongoing COVID-19 pandemic. The company witnessed a gradual improvement in business once the lockdown was lifted. While multiple measures taken by the company for customer safety, product availability and channel expansion have helped increase sales, the prevailing uncertainties have dampened the consumer demand for discretionary spends.
Bata India is the largest footwear retailer in India, offering footwear, accessories and bags across brands. It retails in more than 1550 Bata own and franchisee stores, on bata.in and in thousands of multi-brand footwear dealer stores pan-India.
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