Bata India Ltd reported a 3.02 per cent decline in consolidated profit to ₹63.64 crore in Q4 FY24 from ₹65.62 crore in Q4 FY23. Revenue from operations rose by 2.47 per cent to ₹797.87 crore (₹778.58) in the same period, and declined 11.68 per cent quarter-on-quarter (q-o-q) from ₹903.47 crore in Q3 FY24. 

Consolidated profit declined 18.72 per cent to ₹262.51 crore in FY24, compared to ₹323 crore in FY23. Consolidated revenue increased by 0.78 per cent to ₹3,478.61 crore (₹3,451.56 crore) in the same period. 

Gunjan Shah, MD and CEO, Bata India Ltd said, “With control on costs and focus on efficiency and productivity, we defended our margin growth across channels and maintained our standing in the premium segments across brands such as Red Label, Comfit and Power.”

“We added 24 franchise stores in the quarter, primarily in Tier 3–5 towns to cater to the demand for branded products and to achieve better returns on capital. We are bolstering our offering with international tie-ups such as Hush Puppies and Nine West, which saw a significantly higher ASP driving premiumisation. We are optimistic of a demand revival going forward,” he added.

The board has recommended a final dividend of ₹12 per share (240 per cent on an equity share of par value of ₹5 each). The payment of final dividend is subject to approval by the shareholders at the ensuing annual general meeting of the holding company.

The shares closed at ₹1,393.05, up by 1.39 per cent; Sensex closed at 74,022.48, down 0.64 per cent.

(Inputs by BL intern Vidushi Nautiyal)