Bata India’s third-quarter net profit rose 15% to Rs 83 crore while sales increased 7%.

Shoemaker Bata India Ltd on Tuesday reported a 15 percent year-on-year (YoY) increase in net profit at Rs 83.1 crore for the third quarter that ended December 31, 2022.

In the corresponding quarter last year, the company posted a net profit of Rs 72.3 crore. CNBC-TV18 Polls had predicted a profit of Rs 125 crore for the quarter under review.

In the December quarter, total revenue stood at Rs 900.2 crore during the period under review, up 7 percent against Rs 841.3 crore in the corresponding period of the preceding fiscal. CNBC-TV18 Polls had predicted revenue of Rs 961 crore for the quarter under review.

At the operating level, EBITDA jumped 22.2 percent to Rs 206 crore in the third quarter of this fiscal over Rs 168.6 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 22.9 percent in the reporting quarter as compared to 20 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Gunjan Shah, MD, and CEO, said, “Continuous focus on refreshing product portfolio with our strategy of casualization and offering premium fashionable products reflected in overall ASP growth and expansion in the share of our premium category brands like Hush Puppies, Marie Claire, Red Label, etc., that was backed by festivity and wedding season in the quarter.”