In Q1FY24, the total income amounted to Rs 971.42 crore, showing a year-on-year increase from Rs 952.3 crore.
Bata’s consolidated net profit for Q1FY24 experienced a decline of 10.45%, settling at Rs 106.89 crore in comparison to Rs 119.37 crore in the previous year.
In a sequential analysis, the net profit surged by 62.89%. In the preceding quarter, Q4FY23, the company’s net profit was recorded at Rs 65.62 crore.
The revenue from operations during Q1FY24 was Rs 958.14 crore, marking a 1.6% rise from Rs 943.01 crore in the same period of the previous year.
Considering a quarter-on-quarter perspective, the total income exhibited a substantial growth of 23.19%, ascending from Rs 788.52 crore in Q4FY23.
During the previous year, Bata achieved significant milestones, surpassing 2,000 stores across India.
Throughout FY22-23, Bata introduced its inaugural “Red Label by Bata” store concept, offering exclusive selections for high-end fashion consumers. Additionally, the company opened 25 all-women stores across India during the same period.
On Wednesday, Bata India’s shares experienced a decline of 3.17%, closing at Rs. 1700.30 on the NSE.