Bata India Limited, India-based footwear retailer, has reported decrease in its total income to ₹628.8 crore in its third quarter (Q3) of fiscal 2021 that ended on December 31, 2020, compared to the income of ₹847.8 crore in the same quarter previous fiscal. Company’s profit for the period slipped to ₹26.4 crore (Q3 FY20: ₹118.2 crore).
Bata India Limited, India-based footwear retailer, has reported decrease in its total income to ₹628.8 crore in its third quarter (Q3) of fiscal 2021 that ended on December 31, 2020, compared to the income of ₹847.8 crore in the same quarter previous fiscal. Company's profit for the period slipped to ₹26.4 crore (Q3 FY20: ₹118.2 crore). #
“Owing to decline in Covid cases and vaccine rollout, the overall market sentiment is improving significantly. Backed by good festive sales and our targeted consumer outreach, our sales have recovered to 74 per cent of pre-Covid levels. As a result of our focus on omni-channel retailing and scaling up our digital presence via online marketplaces and our online store, 60 per cent of our marketplaces' orders today are fulfilled by Bata stores and 100 per cent for bata.in,” Sandeep Kataria, CEO at Bata Brands, said in a press release.
Bata India Limited, India-based footwear retailer, has reported decrease in its total income to ₹628.8 crore in its third quarter (Q3) of fiscal 2021 that ended on December 31, 2020, compared to the income of ₹847.8 crore in the same quarter previous fiscal. Company's profit for the period slipped to ₹26.4 crore (Q3 FY20: ₹118.2 crore). #
Company’s total expenses for Q3 FY21 fell to ₹588.1 crore (₹672.0 crore), while profit before tax dipped to ₹36.1 crore (₹175.8 crore).
Bata India Limited, India-based footwear retailer, has reported decrease in its total income to ₹628.8 crore in its third quarter (Q3) of fiscal 2021 that ended on December 31, 2020, compared to the income of ₹847.8 crore in the same quarter previous fiscal. Company's profit for the period slipped to ₹26.4 crore (Q3 FY20: ₹118.2 crore). #
Sales through digitally enabled platforms like Bata website, online marketplaces, Bata ChatShop, Bata Home Delivery and Bata Store on Wheels contributed over 15 per cent of total revenues, release said. Bata opened a total of 45 new franchise stores in the quarter, taking its total to 221 Franchise stores.
Bata India Limited, India-based footwear retailer, has reported decrease in its total income to ₹628.8 crore in its third quarter (Q3) of fiscal 2021 that ended on December 31, 2020, compared to the income of ₹847.8 crore in the same quarter previous fiscal. Company's profit for the period slipped to ₹26.4 crore (Q3 FY20: ₹118.2 crore). #
Formals (incl school business) & Fashion categories continued to be subdued as expected due to prevailing market conditions, the casual, fitness and essentials categories bounced back leading to company's overall volume reaching 88 per cent of pre-Covid levels, company reported in the release.
Bata India Limited, India-based footwear retailer, has reported decrease in its total income to ₹628.8 crore in its third quarter (Q3) of fiscal 2021 that ended on December 31, 2020, compared to the income of ₹847.8 crore in the same quarter previous fiscal. Company's profit for the period slipped to ₹26.4 crore (Q3 FY20: ₹118.2 crore). #
“Overall, we're encouraged by the increasing momentum during the December quarter and we continue to launch new ways to serve our customers better, offering them greater convenience and flexibility. All these measures have enabled us to revitalise the business and soon we expect to get into the thrive phase of our recovery plan,” Kataria concluded.
Fibre2Fashion News Desk (JL)
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