Footwear brand Bata India Ltd reported a 31.04% decrease in its net profit and a 0.7% upturn in total income for the third quarter ending in December. This shift was attributable to weakened demand, notably in premium categories.
The net profit for the third quarter of this year dropped from INR 83.11 crore to INR 57.31 crore, while the total income increased from INR 907.72 crore to INR 914.26 crore compared to the same period last year.
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Gunjan Shah, MD and CEO of Bata India Limited, said, “Despite persistent market headwinds accentuated in discretionary spending, we continued to invest in new product launches, enhancing customer experience and expanding our reach across channels & markets.”
During the quarter, Bata enhanced its presence by incorporating 54 new stores through a blend of franchise and company-owned operations. Additionally, 36 existing stores underwent renovation.
Shares of Bata India Ltd concluded the trading day on the BSE at INR 1459.6 apiece, reflecting a 1.93% decline.
