The leading footwear brand Bata India fell 6.84 percent to INR 1,462.20 on the BSE after reporting results from the 3rd quarter. The shoemaker and retailer Bata India’s 3rd quarter (October-December) revenue has declined around 80 percent to INR 26 crore as compared to last year’s Q3 revenue with INR 118 crore. The Company’s revenue from operations fell by 25.90 percent to INR 616 crore as compared to INR 830 crore for the same period a year ago.
Bata India said, “Owing to the various customer-centric measures adopted in the wake of covid-19, the company has been successful in getting back on its recovery path, with improvement in sales through its retail outlets and eCommerce platforms, and hyperlocal digital channels.”
History of Bata India
Bata India Ltd is the largest footwear manufacturer and retailer in the footwear industry in India. The company offers products that include leather, canvas/rubber, and plastic footwear, having a total of 6 manufacturing plants in Batanagar, Patna, Hathidah, Faridabad, Bangalore, and Hosur. Bata India Ltd was incorporated in the year 1931 and currently has a retail network of more than 1200 stores across the country.
Bata Brands
Focusing on Up-Scaling
Sandeep Kataria, who is currently CEO of Bata India, said, “Owing to decline in Covid cases and vaccine rollout, the overall market sentiment is improving significantly. Backed by good festive sales and our targeted consumer outreach, our sales have recovered to 74 percent of pre-Covid levels. As a result of our focus on omnichannel retailing and scaling up our digital presence via online marketplaces and our online store, 60 percent of our marketplaces’ orders today are fulfilled by Bata stores and 100 percent for bata.in.”
Shares of Bata India were trading 4 percent lower at INR 1,506, underperforming the Sensex which was selling and buying on a flat note.
