Bata India reports Q2 net loss of Rs 44 cr
Bata India on Tuesday reported a consolidated net loss of Rs 44.31 crore during the July-September quarter. During the same period last fiscal, the company had reported a net profit of Rs 71.30 crore. Its revenue from operations during the period under review declined 49 per cent on a year-on-year basis to Rs 367.87 crore.
"Revenue from operations for the quarter stood at Rs 3,679 million showcasing steady signs of a steady recovery after a dull first quarter," the company said in a statement.
It said that 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," it said.
However, the prevailing uncertainties continue to subdue the consumer demand for discretionary spends, the statement added.
Sandeep Kataria, CEO of Bata India Ltd, said: "We moved from revival to revitalisation phase of our strategy. In this quarter, as all the stores opened up gradually, we continued keeping safety of our customers and employees in mind."
"As we inch back to a semblance of normalcy, we are mindful that this is going to be a slow and steady recovery. Therefore, innovation via agile product creation, introducing new emerging digital channels, expansion in Tier3-5 towns, and cost-saving digitalisation will continue to be a priority."
