Bata India reported a consolidated net loss of Rs 44.32 crore in the second quarter ended September 30 as it moved towards recovery from the coronavirus pandemic-induced disruptions.
The company had posted a consolidated net profit of Rs 71.30 crore in the corresponding quarter last fiscal, Bata India said in a regulatory filing.
Revenue from operations stood at Rs 367.87 crore during the quarter under review as against Rs 721.96 crore in the year-ago quarter, the company said in a statement.
Sandeep Kataria Chief Executive Officer of Bata India Limited, said: “We moved from revival to revitalization phase of our strategy. In this quarter, as all the stores opened-up gradually, we continued keeping the safety of our customers & employees in mind. We focused on scaling up our presence in online marketplaces with an expanded range, scaling our channel bata.in, and our new digital channels to reach out to a wider customer base. On the physical stores, we expanded our reach in smaller towns by opening our 200th franchise store, ensuring availability in multi-brand outlets via the Distribution channel, and also optimizing our network in the cities”.
During the quarter, Bata India continued to optimize its retail network and look for cost savings across rentals and operations, manufacturing, and drive efficiencies in its value chain.
“All the cost-focused initiatives that have been put in place across multiple work streams will continue to have a long-term visible impact on the results, post-pandemic as well,” it said.