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Expansion of distribution, digital footprint, evolution of products key levers for company: Bata CEO

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Expansion of distribution, digital footprint, evolution of products key levers for company: Bata CEO

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Shoemaker Bata India on Wednesday reported a consolidated net profit of Rs 37.18 crore for the second quarter ended September 2021, helped by an increase in sales from its retail outlets, e-commerce platforms and expansion drive. The company had posted a net loss of Rs 44.31 crore in the July-September period a year ago. Bata's new MD & CEO Gunjan Shah said the company is seeing sustained consumer demand since July and expects the momentum to improve going forward.

Shoemaker Bata India on Wednesday reported a consolidated net profit of Rs 37.18 crore for the second quarter ended September 2021, helped by an increase in sales from its retail outlets, e-commerce platforms and expansion drive. The company had posted a net loss of Rs 44.31 crore in the July-September period a year ago, Bata India said in a BSE filing.
Revenue from operations was up at Rs 614.12 crore during the quarter under review as against Rs 367.87 crore in the corresponding quarter last fiscal. "Since the opening of the economy and aggressive vaccination drives across the country, the company has continued its multiple measures to ensure customer safety, consumer-relevant communication, product availability and drive channel expansion. All these have resulted in a consistent increase in footfalls across its retail outlets, along with growth seen via e-commerce platforms and expansion drive in smaller towns (Tier 3-5)," the company said in a post-earnings statement.
Bata's new MD & CEO Gunjan Shah who joined the company in June this year told CNBC-TV18 that the company is seeing a sustained consumer demand since July and expects the momentum to improve going forward. He also said higher raw material cost is impacting up to 30 percent of the company's portfolio.
Shah said the immediate strategy is to get the company back to pre-pandemic performance levels. He expects expansion of distribution and digital footprint along with evolution of products according to consumer demand to be the key levers for the company.
Watch video for entire discussion.
With text inputs from PTI.
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