Tata Trent reports Q4 net profit of Rs 322 crore
Tata group-owned retail firm Trent Ltd reported a consolidated net profit of Rs 322 crore ($42.4 million) for the fourth quarter ended March 2020, as against Rs 419 crore it posted in the year-ago period.
The company’s revenue from operations was at Rs 843 crore for the quarter under review, as against Rs 694 crore it reported in the corresponding quarter last fiscal.
For the fiscal year 2019-20, Trent posted a net profit of Rs 106 crore while its revenue from operations was Rs 3,486 crore.
Commenting on the results, Trent chairman, Noel N Tata, in a statement said: “We are pleased to report continued pursuit of our growth agenda coupled with an encouraging operating performance, especially in our lifestyle businesses. Led by the own branded offer, Westside continued to perform well and registered a double-digit like to like growth before the Covid-19 related developments.
“We are confident that following this unprecedented pause, our growth and profitability will continue to accelerate on the back of sustained focus on differentiated brands and customer experience across our concepts and strong expansion of the store network in the year ahead," Tata added.
Trent is engaged in the retail sale of readymade garments and primarily operates stores across formats Westside, Star, Zudio, and Landmark.
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