Bata India has been focusing on the recovery of the business through agile portfolio expansion, scaling up digital presence on e-commerce platforms and introducing two new hyper-local channels Bata Chat Shop for shopping over WhatsApp and ‘Bata Stores on Wheels' mobile kiosks that allow customers to shop at their doorstep.
Besides, the company is taking cost control measures and to increase efficiency. It is focusing on controlling its costs-related to retail stores, factories, rentals and operations and driving efficiencies in its value chain. The impact of cost-saving exercise is visible in these results. Multiple work streams have been put into place to look at all cost-lines and come out of the pandemic fighting fit.
The company reported a consolidated net loss of Rs 100.88 crore for the first quarter ended June 2020 as sales were hit by the coronavirus-related lockdowns.
Its revenue from operations was down 84.69 per cent to Rs 135.07 crore during the quarter under review as against Rs 882.75 crore in the corresponding quarter last fiscal.
Its revenue from operations for the quarter was lower by 85 per cent compared to the corresponding period last year due to the lockdown in April and May followed by a graded unlocking across the country and, consequently, the company incurred a loss after tax of Rs 101 crore as against profit after tax of Rs 100 crore in the corresponding period last year.
Bata India's total expenses were at Rs 321.85 crore as against Rs 743.81 crore, down 56.72 per cent.