homeearnings NewsBata India Q1 standalone net profit shrinks 10% to Rs 107.8 cr

Bata India Q1 standalone net profit shrinks 10% to Rs 107.8 cr

Bata witnessed a growth of 2 percent in revenue from operations at Rs 958.1 crore during the quarter ended June as against Q1FY23, according to PTI.

By PTI Aug 9, 2023 11:35:26 PM IST (Published)

2 Min Read

Bata India Ltd on Wednesday reported a 10 percent decline in standalone net profit to Rs 107.8 crore for the quarter ended June 30, 2023. The company posted a net profit of Rs 119.3 crore in the corresponding quarter of the last year.
Revenue from operations for the quarter stood at Rs 958.1 crore, a growth of 2 percent over Q1FY23. Expenses were higher during the quarter under review to Rs 826.9 crore vs Rs 792.6 crore.
The average selling price of shoes grew by 3 percent during the quarter, the company stated in a statement. "With our strategy of casualisation and premiumisation, expansion in Retail Network and accelerated investment towards core technologies (ERP, Merchandising, etc.,), we believe the template is set up for future profitable growth," Bata India MD and CEO, Gunjan Shah said in his comment.