Q1FY21 results; Bata India net loss of Rs 100.89 crore

Bata India, the country’s leading footwear brand, announced its quarterly results on August 7, 2020. The company posted a consolidated net loss of Rs 100.89 crore for Q1FY21, which declined by 199.91 per cent, as compared to Q1FY20 when it reported Rs 100.97 crore.                                                                                                                                                            

The consolidated net sales reported in Q1FY21 came in at Rs 135.08 crore, which declined by 84.7 per cent YoY from Rs 882.76 crore in Q1FY20.                                                                                                                                                

At EBITDA level, the company stood at negative Rs 85.87 crore in Q1FY21 that decreased by 135.29 per cent YoY. For Q1FY20, it posted an EBITDA of Rs 243.31 crore.

EBITDA margin as of Q1FY21 was at -63.57 per cent that declined by 91.13 per cent YoY. The net profit margin in Q1FY21 came in at -74.69 per cent, which declined by 86.13 per cent YoY. The net profit margin in Q1FY20 was at 11.44 per cent.               

Results in June quarter of FY21 were severely affected because of disruptions caused by the ongoing COVID-19 pandemic. However, after the lockdown was lifted, the company witnessed gradual improvement in the business. It is focusing on controlling its costs-related to retail stores, factories, rentals & operations and drive efficiencies in its value chain. The impact of cost saving exercise is noticeable in these results.                       

On Friday, the share closed with a drop of 0.43 per cent at Rs 1,258.4 on BSE.