Bata India Q2 Results: Net profit drops 38% YoY to Rs 40 crore
Bata India Ltd has reported net profit of Rs 33.99 crore during Q2 FY24, a 38% decline from the same quarter last year when the company had reported a net profit of Rs 54.82 crore.
The net profit was also significantly down from the April-June quarter when the company had reported Rs 106.89 crore profit. Revenue from operations was also down to Rs 819.11 crore during July-September from Rs 829.76 crore in the same quarter last year.
This denotes a 1.3% fall.
The company said the high revenue was despite the delayed festive season this year that will fall into the third quarter.
“Despite navigating through short-term demand headwinds in the quarter gone by, our focus on efficiency and productivity was reflected in robust operating profit margin growth. We remain focused on cost efficiency across all operations including manufacturing facilities and optimizing our resources,” said Gunjan Shah, MD and CEO of Bata India Limited.
The profit before tax & exceptional items stood at Rs.
87.46 crore for the quarter ended on 30 September 2023, which is a 28.4% growth from Rs. 68.14 crore from Q2FY23, showcasing consistent efficiency improvements across operations.
During Q2FY24, Bata added 30 stores in 25 cities, both franchise, and shop-in-shop (SIS) outlets, that contributed to 39% of the brand’s presence.
