Bata India Ltd, one of the leading footwear retailers and manufacturers, has reported a profit before tax (PBT) of Rs.3,080.3 lakh for the third quarter ended September 30, 2010, a 69 per cent increase from Rs.1,818.6 lakh recorded in the corresponding quarter a year ago. Bata follows Jan-Dec (calendar year) as its financial year.
The company’s net sales for the third quarter of the current fiscal stood at Rs.29,178.1 lakh, up 12 per cent from Rs.26,042.7 lakh reported in the same quarter a year ago.
Announcing the results, Marcelo Villagran, MD and CEO, Bata India Ltd, said, “The excellent results of the company are a result of higher sales and profitability due to our continued expansion plan, an excellent shoe line, improved distribution and our customer-centric approach. We have been delivering the best results and are well on our way to make this the most profitable year for Bata India. There has been consistent growth in our retail and non-retail businesses making this quarter so successful.”
Bata India continued to expand its operations by opening 71 new large-format stores across metros and tier I and II cities. The expansion continued to see more store openings across Delhi, Mumbai, Chennai, Hyderabad and Bangalore along with increased penetration in smaller markets such as Ahmedabad, Coimbatore, Jaipur, Trichy, Lucknow, Ujjain, Dhanbad, Nagpur, Hubli and Patiala, among others.
The company also opened 15 new Hush Puppies stores – there are now 12 exclusive brand outlets along with 13 shop-in-shops with leading department stores such as Lifestyle and Central. Bata has also announced the launch of its Bata Home Delivery service under which customers can place orders for any footwear and have it delivered to their doorstep through courier. This ‘free-of-cost’ service will run for a limited period.
Bata, which has been present in India for over 75 years, retails through over 1,200 Bata Shoe stores located in over 400 cities across India.
– IndiaRetailing Bureau