Bata India Ltd on Thursday reported a 5 per cent rise in standalone net profit 65.55 crore for the quarter ending March 2023. it is against net profit 63 crore in the corresponding quarter of the previous financial year.
Revenue from operations increased by 17 percent 778.5 crore for the quarter under review 665.3 crore in the year-ago period.
Board recommended dividend of Rs. 13.50 (270%) per equity share 5 each, fully paid-up, of the Company for the financial year ending March 31, 2023, for approval of the members at the AGM.
Bata India registered a sales growth of 13% over pre-Covid levels (2019-20) with strong margin performance.
“Bata India had a strong year and shows growth across all key metrics and at pre-Covid levels for all business channels across EBO, MBO and e-commerce. Over the last few quarters, we are witnessing a steady demand for casual and comfortable footwear. This is because of the growing trend for casual wear and the demand for comfort and style. Gunjan Shah, MD & CEO – Bata India said, with the increasing number of nuclear families, footfall in the retail sector is also on the rise.
He added, “We are optimistic about our growth on the back of our innovation and evolution of product offerings. We will ramp up our marketing investments in the coming year to accelerate the pace of growth supported by strong investments in technology across the value chain ” ,
The company’s stock closed down 0.33 percent on Thursday. 1525.55 on BSE.
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