Bata India highlights store expansion, renovation in Q4 results

Footwear major Bata India Limited has announced results for the quarter ended 31st March 2024. It said revenue from operations for the quarter stood at Rs. 7976.74 million vs. Rs. 7785.85 million for Q4FY23. The Operating Profit stood at Rs. 582.65 million. “The results for the quarter are a factor of resilience despite sluggish demand conditions to drive growth in a sustainable mannerwith strong margin performance,” said the company statement. 

The company added that the quarter saw continued expansion with a network of 1329 COCO and Franchise stores and that on the digital sales front, e-commerce performance was encouraging. 

It also informed that its Sneaker Studios expanded to 698 Stores. Floatz achieved highest ever quarterly turnover, enhanced by 11 Floatz Kiosk. Bata also launched its 1^st Power EBO in Noida. And plans to open another 5 shortly. 

To enhance customer experience, the brand also continued to renovate stores. 67 stores were renovated during the quarter with significant thrust towards portfolio newness with style & technology propositions.

Speaking on the Q4FY24 performance, Gunjan Shah, MD and CEO - Bata India Limited, stated, “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. With cautious control on costs and focus on efficiency and productivity, we were able to defend our margin growth across channels and maintain our standing in premium segments across brands like Red Label, Comfit, Power. We added 24 Franchise Stores in the quarter, primarily in Tier 3 – 5 towns to cater the demand for branded products and achieve better returns on capital.”