Bata India's Q1FY23 revenue jumps ~253% y-o-y at Rs943 crore

12 Aug 2022 , 09:54 AM

Bata India Limited, a major footwear company, announced its quarterly financial results. Revenue from Operations stood at Rs943 crore for the quarter ended June 30, 2022, compared to Rs267 crore for the quarter ended June 30, 2021.

The company has recorded the highest ever quarterly sales, showcasing significant momentum across all sales channels.

Company’s Profit before tax was reported at Rs159.70 crore in Q1FY23 as against a loss of Rs94.90 crore in the previous corresponding quarter.

Bata India registered many folds jump in its PAT for Q1FY23 at Rs119.37 crore as compared to a loss of Rs69.48 crore in Q1FY22.

The company stated that footfalls across retail outlets increased significantly as portfolio freshness and consumer/marketing investments increased, supported by sales through digital channels and a strong expansion of footprint across EBOs and MBOs.

The company has continued to optimize its cost structures and drive efficiencies throughout its value chain. All of the cost-cutting initiatives implemented across multiple work streams are having an increasing impact quarter after quarter.

At around 9.53 AM, Bata India was trading at Rs1,906 per piece, down by Rs9.35 or 0.49% from its previous closing of Rs1,915.35 on the BSE. The scrip opened at Rs1,921.50 and touched intraday high and low of Rs1,930 and Rs1,883.25 respectively.