Leading footwear company Bata India Limited has released its quarterly statistics until June 30, 2024. During the quarter, revenue from operations was Rs. 9,446 million, as opposed to Rs. 9,581 million in Q1 FY ’24.

The amount of net profit was Rs. 1,744 million. The quarter’s results show that premiumization, technology and marketing investments, improving customer experience, and preserving gross margins in the face of slowing consumption growth were all executed with discipline.

Additionally, Bata made a one-time gain of Rs. 1,340 million on the sale of property. The quarter’s earnings also include an aggregate one-time expenditure of Rs. 147 million for technology investments.

Bata highlighted continued growth, resulting in a network of 1,916 outlets (COCO and Franchise). The performance of e-commerce was positive. Compared to the prior quarter, Bata’s internet sales increased significantly. The approach of portfolio casualization is still effective, with Power leading the Sneaker category. Floatz Kiosk and Sneaker Studios grew. During the quarter, 37 locations underwent renovations, with a focus on adding new offerings in terms of style and technology. Bata introduced the “Try and Fly” campaign, the first-ever industry promotion for trying on shoes, to increase foot traffic.

Speaking on the Q1FY25 performance, Gunjan Shah, MD and CEO – Bata India Limited, stated, “Bata India navigated well through the slugging consumption environment further accentuated due to the elections and extreme heat wave in the last quarter. We sustained our gross margin with our premiumisation strategy while continuing investments in marketing and technology platforms. We added 33 Franchise Stores in the quarter, primarily in Tier 3 – 5 towns to cater to the demand for branded products and achieve better returns on capital. Bata also launched its 2nd Power EBO in Delhi. Along with cautious control on costs and focus on efficiency and productivity, we continued to manage our inventory while having strong in-store availability of fresh merchandise in anticipation of festive season-driven consumption uptick.”