Bata India Ltd, a prominent shoemaker, has reported a 3.02 percent decline in consolidated net profit to INR 63.64 crore for the fourth quarter ended March 2024. According to a regulatory filing from Bata India, it had posted a net profit of INR 65.62 crore in the January-March period a year ago.
During the quarter under review, Bata India witnessed a 2.47 percent increase in revenue from operations, amounting to INR 797.87 crore. This marks a rise from INR 778.58 crore recorded in the corresponding period of the previous year.
In the March quarter, Bata India’s total expenses stood at INR 736.83 crore, reflecting a 5.22 percent increase.
“The results for the quarter showcase our resilience despite challenging demand conditions, driving sustainable growth with strong margin performance,” stated Bata India in an earnings statement.
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During the March quarter, Bata’s total income amounted to INR 736.83 crore, marking a 5.22 percent increase.
Commenting on the performance, MD and CEO Gunjan Shah remarked, “Bata India adeptly navigated through the unexpected market sluggishness, steering toward sustainable growth driven by brands supported by substantial investments in marketing and technology. Our strategies enabled us to maintain margins effectively.”
Annual Financial Highlights
In the financial year ended on March 31, 2024, Bata India witnessed a decline of 18.7 percent in its consolidated net profit, amounting to INR 262.51 crore compared to INR 323 crore in the previous year. Despite this, its revenue from operations for FY24 showed a marginal increase, reaching INR 3,478.61 crore compared to INR 3,451.56 crore in the previous year.
Bata has reiterated its commitment to a “positive outlook and accelerating growth” by maintaining significant investments in both the brand and technology.
In a separate filing, Bata India informed that its board, in a meeting held on Wednesday, has recommended a 240 percent dividend, amounting to INR 12 per equity share of INR 5 each, for the financial year ending March 31, 2024.
On Wednesday, shares of Bata India Ltd concluded at INR 1,373.50 on the BSE, marking a 1.23 percent increase.
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