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Leading shoemaker Bata India on Thursday reported a 4.22 per cent rise in consolidated net profit to Rs 65.62 crore for the fourth quarter ended March 2023.

The company had posted a net profit of Rs 62.96 crore in the January-March quarter a year ago, Bata India Ltd said in a BSE filing.

Its revenue from operations during the quarter under review surged 17.03 per cent to Rs 778.58 crore from Rs 665.24 crore in the corresponding quarter of the previous fiscal.

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Bata India’s total expenses in the fourth quarter grew 16.82 per cent to Rs 700.22 crore. It was Rs 599.39 crore in Q4 FY22.

Its total income in the March quarter rose 15.28 per cent to Rs 788.52 crore.

For the fiscal ended March 2023, Bata India’s net profit increased three-fold to Rs 323 crore. It reported a net profit of Rs 102.99 crore in FY22.

Its consolidated revenue from operations was Rs 34,51.56 crore in FY23, 44.5 per cent higher than the preceding fiscal year.

“The results for the year showcase the significant contribution of strategic growth levers helping Bata India drive growth over pre-COVID levels through innovation, expansion and evolution,” Bata said in its earning statement.

Bata’s Board has recommended a dividend of 270 per cent, which is Rs 13.50 per equity share of Rs 5 each for the financial year ending March 31, 2023.

The company drove premiumisation in its top 200 shops with a price range between Rs 2,999-4,999. This helped to grow ASP (Average selling price) by “13 per cent from last year”.

Its MD and CEO Gunjan Shah said: “Bata India had a robust year and this reflects in the growth over pre-COVID levels for all key metrics and across all business channels of EBOs, MBOs and E-Commerce. During the last few quarters, we are witnessing consistent demand for casual and comfortable footwear. This is due to the increasing trend for purchase of non-occasion wear and demand for comfort & style”.

Regarding the growth outlook, Shah said he is “optimistic”.

“We will step up our marketing investments in the coming year to fuel accelerate growth momentum backed by strong investments in technology across the value chain,” he added.

Share of Bata India on Thursday settled at Rs 1,525.55 on BSE, down 0.33 per cent from the previous close.