The footwear maker declared its Q3 numbers post trading hours yesterday, 6 February 2020.
On a consolidated basis, Bata India's net profit jumped 14.75% to Rs 118.26 crore in Q3 December 2019 as against Rs 103.05 crore reported in Q3 December 2018. Consolidated net sales rose 6.54% to Rs 830.82 crore in Q3 December 2019 over Q3 December 2018.
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Consolidated profit before tax grew 10.37% to Rs 175.82 crore in Q3 December 2019 as compared to Rs 159.30 crore posted in Q3 December 2018. Current tax expenses, for the quarter, witnessed a 27.16% fall to Rs 41.48 crore over Rs 56.95 crore in Q3 December 2018, which boosted the consolidated PAT during the quarter.
As per the company's press release, Bata India's steady sales came on the back of continuous investments over the past two years in areas of product portfolio evolution in line with consumers' lifestyle, innovation & design-focus, new store openings and renovation, focus on customer experience and new marketing campaigns.
The company continued to strengthen its channel focus by rolling out omni-channel home delivery offerings in more than 60% of its stores which helped improve conversion, expanding its presence in smaller towns with population between 50K to 100K via Franchise and multi-brand outlet presence and started selling in modern trade department store chains like Central, Shoppers Stop and Lifestyle. Wholesale business channel have also contributed significantly by posting robust growth on the back of investments made in previous quarters in people, product and infrastructure.
Commenting on the Q3 performance, Sandeep Kataria, the CEO of Bata India, has stated that, These results were due to our continued focus on customer-centric portfolio including the new sneakers range, innovations in areas of comfort, design and materials, channel expansion in distribution business, modern trade and franchisee business. New stores and renovations continued to aid consumer experience.
Meanwhile, the board approved the re-appointment of Ravindra Dhariwal as an independent director for a second term of 3 consecutive years commencing from 27 May 2020 to 26 May 2023.
Bata India fell 0.99% to close at Rs 1,853.25 on BSE yesterday, 6 February 2020.
Bata India is engaged in the business of manufacturing and trading of footwear and accessories through its retail and wholesale network, and development of real estate. The firm's segments include footwear & accessories, and surplus property development.
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