Footwear major Bata India Limited has announced results for the fourth quarter ended 31 March, FY 2021. Continuing with the positive trajectory of the previous quarter, the company registered profit of INR 403 million, with revenue from operations standing at INR 5,899 million. While the third quarter ended on a comparatively stronger note because of festive sales, the Q4 results indicated steady and consistent growth in line with quarter’s seasonality, the company said in its earnings statement
The company further strengthened its e-commerce and omnichannel facilities to cover more pin codes across India, while also continuing to expand its retail network in tier 3-5 towns via franchising. It opened 10 new franchisee stores and appointed new distributors to serve multi-brand stores, the statement added.
Commenting on the company’s performance, Sandeep Kataria, CEO – Bata, said: “The Q4 results are satisfactory for us, considering Q3 sales have historically been always better because of festive season. We continued our march towards recovery via our channel expansion efforts via Franchising, distribution and marketplaces routes. As the economy gained pace and offices started re-opening, we rolled out our first campaign of the year showcasing ‘Relaxed Workwear’ collection offering the best of comfort technologies across Bata, Hush Puppies, Bata Red Label, Comfit and Naturalizer brands. With the surge in Covid-19 cases in wave 2, we refocused to make Essentials & Fitness Sneakers available to our customers, as consumers stayed back in their homes.”
“With omni-channel customer generating more revenue than a single-channel customer, we scaled up our tech-related solutions & investments to engage and offer better experiences and driving up cross-channel purchases, customer service and retention,” he added.
The retailer plans to continue serving customers at their doorsteps via multiple channels – www.bata.in, marketplaces, Home delivery, Bata Store-on-Wheel mobile kiosk activation in residential areas and Bata ChatShop WhatsApp shopping with same day delivery promise from nearby stores.
The company has adequate cash reserves and is curbing discretionary expenses to eliminate redundancies and introduce efficiencies in its value chain, it said.