Bata India on Tuesday reported a consolidated net loss of Rs 44.31 crore throughout the July-September quarter. During the identical interval final fiscal, the corporate had reported a net revenue of Rs 71.30 crore. Its income from operations throughout the interval below assessment declined 49 per cent on a year-on-year foundation 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 corporate stated in a press release.
It stated that for the reason that opening up of the economic system in June, the corporate has continued its a number of measures to make sure buyer security, client related communication, product availability and drive channel enlargement.
“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 stated.
However, the prevailing uncertainties proceed to subdue the buyer demand for discretionary spends, the assertion added.
Sandeep Kataria, CEO of Bata India Ltd, stated: “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.”