The Board of the company in a meeting held on Wednesday recommended a dividend of 1,090 percent, which is ₹54.5 per equity share of ₹5 each fully paid-up of the company, which includes a one-time special dividend of ₹50.5, for the year ended March 31, 2022.
Shoemaker Bata India Ltd on Wednesday reported an over two-fold increase in its consolidated net profit at ₹62.96 crore for the fourth quarter ended March 31, 2022, helped by robust sales. The company had posted a net profit of ₹29.47 crore in the January-March quarter a year ago, Bata India said in a regulatory filing. Its revenue from operations increased 12.77 percent to ₹665.24 crore during the quarter under review, as against ₹589.90 crore in the corresponding quarter of 2020-21.
“The company continued the focus on key thrust areas of franchise & MBO expansion, consumer-relevant communication, portfolio casualisation and digital footprint expansion. All these have resulted in an increase in footfalls across retail outlets, along with significant growth driven via e-commerce platforms and expansion in Tier 3-5 towns,” said Bata India in its earnings statement.
This has resulted in revenue for the quarter staying in line with pre-pandemic levels for a second consecutive quarter, despite Omicron-related disruptions in the initial part of the quarter.
Bata India’s total expenses were at ₹599.39 crore, up 6.29 percent in Q4/FY 2021-22, as against ₹563.90 crore in the January-March quarter of the previous fiscal.
“In the last two quarters, we witnessed significant recovery in demand in the backdrop of improvement in consumer sentiments and deeper understanding of the pandemic, availability of vaccines, and faster easing of restrictions. We kept expanding our reach through new franchise stores & multi-brand outlets,” Bata India MD and CEO Gunjan Shah said.