Bata India Posts 62.84% Profit Surge in Q1 2024

Bata India Ltd reported a 62.84% increase in consolidated net profit to Rs 174.36 crore for Q1 2024, aided by margin expansion and industrial land sales. The company's revenue declined by 1.41%, but digital sales saw significant growth. Expenses rose by 6%, with notable investments in marketing and technology.

Shoemaker Bata India Ltd on Tuesday reported a significant 62.84% increase in its consolidated net profit, amounting to Rs 174.36 crore for the first quarter ended June 2024. The jump in profit was primarily driven by margin expansion and gains from the sale of industrial land.

Despite this, the company's revenue from operations fell by 1.41% to Rs 944.63 crore, compared to Rs 958.14 crore for the same period last year. The decline comes amid a generally sluggish consumption environment.

Bata India continued its strategic efforts in premiumisation, marketing, and technology investments. These efforts helped maintain gross margins and also led to significant growth in digital sales. The company operates 1,916 stores, adding 33 new franchise locations during the quarter to capitalize on demand for branded products in smaller towns.

(With inputs from agencies.)