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Business Economy


Bata India announces Q1 results, impacted due to lockdown

Kolkata, Aug 7 (UNI) Bata India – the country’s leading footwear brand, on Friday reported
the company incurred a loss after tax of Rs.1,012 million as against profit after tax of
Rs.1,006 million in the corresponding period last year.
Revenue from operations for the quarter was Rs.1348 million (lower by 85% compared
to the corresponding period last year due to the lockdown in April & May followed by a
graded unlocking across the country).
Results in the first quarter of FY2020-21 were severely impacted because of disruptions
caused by the ongoing COVID-19 pandemic. The Company witnessed a gradual
improvement in business once the lockdown was lifted.
While multiple measures taken by the Company for customer safety, product availability
and channel expansion have helped increase sales, the prevailing uncertainties have
dampened the consumer demand for discretionary spends.
The Company is focusing on controlling its costs-related to retail stores, factories,
rentals & operations and drive efficiencies in its value chain. The impact of cost saving
exercise is visible in these results. Multiple work streams have been put into place to
look at all cost-lines and come out of the pandemic fighting fit.
Sandeep Kataria, CEO – Bata India Limited, stated, “It was an unprecedented quarter
in Bata India’s history. During the quarter we had low sales and no production due to
lockdown mandated by the Government due to the pandemic. Our stores started opening
up in a graded fashion, but running operations was a challenge due to frequent lockdowns
and restrictions mandated by local administration across the country. We re-started our
operations keeping safety of our customers & employees in mind and in line with
government and our global standards. The results have to be viewed in this context.”
“The team has responded admirably by focusing on recovery of the business through
agile portfolio expansion, scaling up our digital presence via bata.in & e-comm partners
and introducing 2 new hyper-local channels Bata Chat Shop for shopping over WhatsApp
and ‘Bata Stores on Wheels’ mobile kiosks that allow customers to shop at their doorstep.
In addition, we have increased our focus on franchise store rollout and extending our
reach to multi-brand outlets to get even closer to our customers. We are hopeful that the
improvement in sale will continue and get a further boost with the festivities in the
coming quarter,” Mr Kataria said.
“There is strong focus on cost saving across all cost lines including renegotiating lease
rentals, controlling discretionary spends and improving productivity. We have used the
past few months to recast our value chain and prepare the Company for the future,” he
added.
UNI BM SJC
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