On November 8, Bata India Ltd. revealed its consolidated net profit for the September quarter of FY24, which came in at Rs 34 crore, down 38% from Rs 54.8 crore the previous year.
According to a regulatory filing, the company’s revenue for the quarter ended March 31st, 2018 was Rs 819 crore, down 1.3% from Rs 829.7 crore in the same period the previous year.
For the quarter, earnings before interest, tax, depreciation, and amortization (EBIDTA) increased by 12.9% to Rs 181.6 crore. The EBIDTA margin increased by 280 basis points year over year to 22.2%. One tenth of a percentage point is equal to one basis point.
We keep developing new prospects throughout our value chain. We continue to prioritize cost effectiveness in all aspects of our business, including resource optimization and production facilities. According to Gunjan Shah, MD and CEO of Bata India Limited, “We continue to expand across tiers in a capital-efficient manner, digital channels, and make investments in elevating customer experience & brand marketing in line with our strategy of sustainable profitable growth.”
The company kept up its expansion efforts during this quarter, running a network of 30 stores in around 25 cities. Over 39% of the company’s footprint is made up of shop-in-shop (SIS) and franchise locations. Notably, renovations were made to 54 establishments, improving the general shopping experience for patrons. The business also introduced the Sneaker Studio concept at 612 stores, effectively executing its portfolio casualization strategy.
The Floatz business sector increased its footprint by launching the Floatz banner in ten additional stores and showed impressive growth, with a seventy percent rise. The firm launched a number of projects, including the Casual Style, Bata Celebration, Monsoon, and School campaigns, to demonstrate its dedication to enhancing consumer involvement.
Furthermore, both the ERP project’s development and the HPM merchandising project’s execution proceeded according to plan.
In an astute move, the business inked a full production and licensing deal with the world-famous fashion label Nine West with the goal of introducing trendy fashion designs to Indian customers.
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