Bata India stock under pressure post Q2FY23 numbers

11 Nov 2022 , 09:17 AM

Footwear major Bata India Limited has announced results for the quarter ended September 30, 2022. Revenue from operations for the quarter stood at Rs8,297 million (a growth of 35% over quarter ended September’21) showcasing consistent improvements across channels.

The net Profit stood at Rs511 million as against net profit of Rs370 million in the quarter ended September 2021, showing a growth of 38%.

Despite tough operating environment and significant material inflation, the Company managed to drive broad volume driven revenue growths across business channels of retail/franchise/distribution/E-comm.

Gunjan Shah, MD and CEO – Bata India Limited, commented, “The festivity around the corner and positive customer sentiments reflected in increased footfalls. Our continued improvement in Customer Experience and engagement has reflected in ever highest Net Promoter Score.

Company continued its momentum on key strategic thrust levers.

In the mass categories, there has been sluggishness witnessed due to the inflationary pressure. Further, the management is keeping a close watch on the pricing trends to ensure timely corrective actions.”

At around 9:16 AM, Bata India Ltd is currently trading at Rs1,764.75 per share down by Rs14.45 or 0.81% from its previous closing of Rs1,779.20 per share on the BSE.

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