New Delhi: Leading shoemaker Bata India Ltd on Monday reported a marginal increase of 1.2 per cent in consolidated net profit at Rs 58.7 crore for the third quarter ended December 2024 on account of exceptional items. It had posted a net profit of Rs 57.97 crore for the October-December period a year ago, according to a regulatory filing from Bata India.
Revenue from operations was up 1.69 per cent to Rs 918.79 crore during the quarter under review.
The company has “a volume-led revenue growth” and “EBIDTA margin expanded by 141 basis points, resulting in a PAT of Rs 58 crore,” said Bata India in its earning statement.
“The results for the quarter also include a one-time exceptional expenditure of Rs 10.8 crore towards VRS in our factory – consistent with our long-term strategy towards building capability, agility and efficiency in our supply chain,” it added.
Total expenses in the December quarter were at Rs 840.57 crore, marginally up year-on-year. Total income, which includes other income, was up 1.54 per cent to Rs 928.65 crore.
Commenting on the result, MD and CEO Gunjan Shah said despite the muted demand, Bata managed to gain volumes.
“We saw double-digit growth in Hush Puppies, through our premium offerings. These strategies helped us sustaining margins,” he said adding “We saw robust growth in our e-commerce channel with a new and revamped website.”
Bata’s omni-channel initiatives like entry into quick-commerce, coupled with continuous expansion in newer towns, have significantly enhanced market reach, he added.
Over the outlook, he said:” We remain optimistic about demand recovery basis concerted efforts on driving volume-based revenue growth, by offering affordability and freshness. We will continue to move ahead with cautious control on costs and focus on efficiency and productivity.”
Shares of Bata India Ltd on Monday settled at Rs 1,339.55 apiece on BSE, up 0.39 per cent.
