Bata India announces Q3 results; Stepping ahead positively driven through portfolio premiumization and expansion. Footwear major Bata India Limited today announced results for the quarter ended 31st December 2022. Revenue from operations for the quarter stood at Rs. 9002 million (a growth of 7% over quarter ended December’21). The Operating Profit stood at Rs. 1021 million, a growth of 22% over the quarter ended December 2021.
The results for the quarter showcased momentum behind the strategic levers driving strong portfolio evolution, strong footprint expansion across touchpoints coupled with improving cost efficiencies, helping drive revenue growth and increased margins despite significant inflationary pressure.
Speaking on the Q3FY23 performance, Gunjan Shah, MD and CEO – Bata India Limited, stated:
“Continuous focus on refreshing product portfolio with our strategy of casualization and offering premium fashionable products reflected in overall ASP growth and expansion in share of our premium category brands like Hush Puppies, Marie Claire, Red Label, etc., that was backed by festivity and wedding season in the quarter. We also saw encouraging demand for our comfort and casual wear ranges of Bata Comfit, Floatz, etc. The quarter also marks highest ever addition of Franchise stores with total footprint crossing the 2000+ milestone for the 1st time.
We continue to drive various cost optimization initiatives across the value chain. In the mass categories, the demand remains sluggish due to the inflationary pressures. We have continued investments in marketing and technology to fuel accelerated momentum.”