The leading shoemaker Bata India Ltd. announced on Monday that its consolidated net profit for the second quarter ended September 2024 increased by 53% to Rs 51.97 crore, aided by premiumization and operational savings. As to Bata India’s regulatory filing, the company reported a net profit of Rs 33.99 crore for the July-September FY24 period.
In the same time frame last year, Bata, which distributes North Star and Hush Puppies in India, made ₹34 crore. A ₹40.9 crore charge for a voluntary retirement plan was included in the profit from the previous year. Compared to ₹819.1 crore in the prior year, revenue for the quarter climbed by 2.2% to ₹837.1 crore.
Bata India Q2 Results
On Wednesday, November 8, Bata India released its July-September quarter results for fiscal 2023-24 (Q2FY24), revealing a 38% drop in consolidated net profit to ₹33.9 crore from ₹54.8 crore during the same period the previous year. In the second quarter of the current fiscal year, the footwear retail company’s operating revenue was ₹819 crore, a 1.3% decrease from ₹829.7 crore during the same period last year.
About the Company Bata India
The biggest shoe maker and retailer in the nation is Bata India Ltd. Through its network of retail and wholesale locations, the company manufactures and sells shoes and accessories. With 1569 locations throughout cities, including franchisee outlets, it has a significant retail presence in India. It has four well-located production facilities that can produce 21 million pairs of shoes annually. Leather shoes, rubber/canvas shoes, and plastic shoes are among their offerings. Their production facilities are located in Bangalore, Karnataka; Batanagar, West Bengal; Patna and Hathidah, Bihar; Faridabad, Haryana; and Hosur, Tamilnadu.
Throughout the quarter, Bata India kept up its expansion efforts, growing its distribution network to include 1955 (COCO and Franchise) locations. Additionally, 48 locations had renovations this year, enhancing the consumer experience with fashionable and technological offerings. The company has implemented Sneaker Studio in 756 stores as part of the portfolio casualization plan.
