Bata records net sales of Rs. 49, 512 lakhs
Posted on May 01 2014 | IBNS
New Delhi, May 1 : Footwear retailer and manufacturer Bata India on Thursday announced its financial results for the quarter ending Mar 31 where its net sales for the quarter were Rs. 49,512 Lakhs and operating profit was Rs.5,217 Lakhs.
Bata India's Profit after Tax for the quarter was Rs. 3,940 Lakhs.
The turnover of the company grew by 9.1 percent, in Q1 of 2014 as compared to the same period in 2013.
Net Profit for the first three months of the year has increased by 2.5 percent over the corresponding period last year.
This quarter results includes an investment of Rs. 300 lakhs (net of tax) made in Spring Summer 2014 Marketing Campaign, benefit of which will accrue during the year.
Rajeev Gopalakrishnan, Group Managing Director of Bata Emerging Markets said "In the first quarter of 2014, our turnover has grown by 9.1pc as compared to the same period last year and we have invested in a fully integrated marketing campaign which appeals to sensibilities of the Indian consumer across all age groups and demographic profiles."
"This only reinstates our commitment to deliver quality, value, aspirational and contemporary products to our customers. With 2013 ending as a successful and profitable year for Bata India, we aim to continue the trend in 2014. We are confident that we will succeed in our endeavour to expand our geographic footprint, add newer products and deliver on our expectations as we move forward in the year," he said.
He also added, "Reflecting on the first quarter, the massive 360-degree integrated marketing campaign, ‚EuroěWhere Life Meets Style‚Euroü was launched along with an innovative TV commercial shot waist down to capture moments of one‚Euroüs life. We are confident that such investments will offer tremendous value to our consumers and stakeholders."
Bata has nearly 1400 stores and plans to open 100 new stores across markets this year.
While Bata India is already present in tier 1 and 2 markets, they will continue to strengthen their presence in the country and make the brand accessible to their existing and potential customers.
The new summer'14 collection is a combination of trends and great amount of gratifying experimentation resulting into a wide mix of loafers, ballerinas, sneakers, floaters, formal and outdoor collection catering to men, women, teens and kids.
Special collections like the contemporary men's casual shoes and ballerinas for women will be seen as the key highlight for the season.