Expansion working well, says Bata India as it shares Q1 results

Footwear major Bata India Limited has announced results for the quarter ended June 30, 2024 which shows that the company’s revenue from operations for the quarter stood at Rs. 9,446 million vs. Rs. 9,581 million for Q1FY24. The net profit stood at Rs. 1,744 million. “The results for the quarter demonstrate disciplined execution of our strategies on premiumisation, investment in marketing and technology, elevating customer experience, by maintaining Gross Margins in the face of sluggish consumption momentum during the quarter,” said the company statement. 

Key Highlights

• Continued expansion with a network of 1916 (COCO and Franchise) stores. 

• Portfolio casualisation strategy continues to work well, with Sneaker category led by Power. Sneaker Studios and Floatz Kiosk expanded. 

• 37 stores were renovated during the quarter with significant thrust towards portfolio newness with style & technology propositions.

Speaking on the Q1FY25 performance, Gunjan Shah, MD and CEO - Bata India Limited, said, “Bata India navigated well through the slugging consumption environment further accentuated due to the elections and extreme heat wave in the last quarter. We sustained our gross margin with our premiumisation strategy while continuing investments in marketing and technology platforms.  We added 33 Franchise Stores in the quarter, primarily in Tier 3 – 5 towns to cater the demand for branded products and achieve better returns on capital. Bata also launched its 2^nd Power EBO in Delhi. Along with cautious control on costs and focus on efficiency and productivity, we continued to manage our inventory while having strong instore availability of fresh merchandise in anticipation of festive season driven consumption uptick.”