Indian Footwear Brand Bata Reports 78% Decline In Q3 Profits - SolidRumor.com

Indian Footwear Brand Bata Reports 78% Decline In Q3 Profits

 Indian Footwear Brand Bata Reports 78% Decline In Q3 Profits

A Bata India store. Bata India.

Bata India saw a 77.6 percent year-on-year decline in consolidated net profit to 26.4 crore rupees (around $3.6 million) for the quarter ended December 2020, Economic Times reported.

Revenues stood at 615.6 crore rupees ($84.5 million) for the quarter under consideration, down 25.9 percent year-on-year. While the brand’s fashion and formal (such as school wear) categories continue to lag in the wake of Covid-19, its casual, fitness and essentials categories have seen sales recover. Overall volume has reached 88 percent of Bata’s pre-Covid performance, it told ET.

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