BATA INDIA ANNOUNCES Q2 RESULTS, SHOWS SIGNS OF RECOVERY #EDUCRATSWEB

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  • Footwear major Bata India Limited today announced results for the quarter ended 30 September 2020. Revenue from operations for the quarter stood at Rs. 3679 million showcasing steady signs of a steady recovery after a dull first quarter. The net loss stood at Rs. 444 million, as against a loss of Rs. 1011 million in the previous quarter ended 30' June 2020. Since the opening up of the economy in June, the Company has continued its multiple measures to ensure customer safety, consumer relevant communication, product availability and drive channel expansion. All these have resulted in a consistent increase in footfalls across its retail outlets, along with growth seen via e-commerce platforms, expansion drive in smaller towns in Tier 3-5 and newly launched channels — Bata ChatShop and Bata Store-on-Wheels. However, the prevailing uncertainties continue to subdue the consumer demand for discretionary spends.

     

    The Company continued to optimize its retail network and look for cost-savings across rentals & operations, manufacturing and drive efficiencies in its value chain. All the cost-focused initiatives that have been put in place across multiple work streams will continue to have long-term visible impact on the results, post-pandemic as well.

     

    Sandeep Kataria, CEO — Bata India Limited, stated: "We moved from revival to revitalization phase of our strategy. In this quarter, as all the stores opened-up gradually, we continued keeping safety of our customers & employees in mind. We focused on scaling up our presence in online marketplaces with an expanded range, scaling our own channel bata.in and our new digital channels such as 'Bata ChatShop', 'Bata Home Delivery' & 'Bata Store-on-Wheels' mobile kiosk to reach out to a wider customer base. On the physical stores, we expanded our reach in smaller towns by opening our 200th . Franchise store, ensuring availability in multi-brand outlets via Distribution channel and also optimizing our network in the cities. Along with channel expansion initiatives, we continued our strong focus on cost-savings measures across our network, controlling discretionary spends and enhancing productivity. These measures have laid the foundation that will help us capture the emerging consumer demand. With the festive season underway, we launched our first major campaign of the year — 'Kick Out 2020'— along with our new collection, 'Ready Again' which is resonating well with consumers. As we inch back to a semblance of normalcy, we are mindful that this is going to be a slow & steady recovery. Therefore, innovation via agile product creation, introducing new emerging digital channels, expansion in Tier3-5 towns, and cost-saving digitalization will continue to be a priority"

    Bata India announces Q2 results, shows signs of recovery
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