Bata India Ltd posts consolidated Q1FY22 loss of Rs. 69.47 crore

Bata India Limited has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.279.25 crores during the period ended June 30, 2021 as compared to Rs.604.28 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.(69.47) crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.29.47 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.(5.41) for the period ended June 30, 2021 as compared to Rs.2.29 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 279.25 crs	₹ 604.28 crs	-53.79%
Net Profit	₹ (69.47) crs	₹ 29.47 crs	-335.73%
EPS	₹ (5.41)	₹ 2.29	-336.24%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.279.25 crores during the period ended June 30, 2021 as compared to Rs.187.11 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.(69.47) crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.(100.88) crores for the period ended June 30, 2020.

The company has reported EPS of Rs.(5.41) for the period ended June 30, 2021 as compared to Rs.(7.85) for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 279.25 crs	₹ 187.11 crs	49.24%
Net Profit	₹ (69.47) crs	₹ (100.88) crs	-31.14%
EPS	₹ (5.41)	₹ (7.85)	-31.08%

Bata India continued to strengthen its retail presence in tier 3-5 cities by opening 7 new franchise stores during the first quarter despite the lockdown, taking the overall tally to 234 franchise stores. The brand also scaled up its website, www.bata.in, and continued to reach out to its customers through hyperlocal channels - Bata Chatshop and Bata Store on Wheels, thereby making remote shopping experience more convenient.

Supporting the country in combatting the pandemic, Bata India has been at the forefront to conduct vaccination drives across its regional offices and factories for its employees and their families. Till now, Bata has successfully vaccinated 99% of its staff with the first dose, and expects to complete full vaccination in the current quarter. The company also set up a Covid Task Force cross every region to extend support to its employees and their families in case of an emergency.

Gunjan Shah, CEO - Bata India Limited, stated: 'The first quarter had some challenges for businesses across the country, including ours. However, this time around, we were better prepared as we had a more agile contingency plan in place which helped us navigate adroitly through the changing business landscape amidst infection surge. While our retail outlets were largely shut, we were able to serve our customers through alternate channels such as our website www.bata.in, online market places, Bata ChatShop, and Bata Store on Wheels. These channels have enabled us in minimising the overall impact of the second wave. We also continued with our retail expansion drive and opened 7 new franchise stores in tier III-V cities during the first quarter. Since the ease in lockdown, footfalls in our retail outlets have started growing, signalling strong signs of recovery."

Keeping pace with current consumer trends, Bata India curated and prompted relevant collections for its customers like Work from Home, Fitness at Home and Monsoon Collection. The Company continued to also optimize its retail network and look for cost-savings across operations, manufacturing and drive efficiencies in its value chain.

Shares of Bata India Limited was last trading in BSE at Rs. 1660 as compared to the previous close of Rs. 1693.75. The total number of shares traded during the day was 30320 in over 2590 trades.

The stock hit an intraday high of Rs. 1708.25 and intraday low of 1626.65. The net turnover during the day was Rs. 50489574.

Source : Equity Bulls

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