Trent Ltd posts Q2 net profit of Rs 80 crore
Tata group retail firm Trent Ltd reported a consolidated net profit of Rs 80 crore ($10.8 million) for the second quarter ended September 2021, as against a net loss of Rs 79 crore in the year-ago period.
The company’s revenue during the quarter rose over two-fold to Rs 1,178 crore, as compared with Rs 585 crore in the year-ago period.
Trent’s total expenses during the quarter rose by 58 percent to Rs 1,116 crore, as against Rs 708 crore a year ago.
Commenting on the Q2 results, Noel N Tata, chairman of Trent Ltd in a statement said: “The second wave and the aftermath disrupted our operations across our concepts in the first quarter. Nevertheless, we have been pleasantly encouraged by the rapid recovery in customer offtake starting from the middle of June as the business re-opened in many markets. Trent's fashion business has recovered sharply and is now back to operating profitability.”
“We have continued to focus on our expansion programme, and I am happy to report that we are seeing good progress on building a strong pipeline, even as the constraints for actual opening to customers remain a challenge in the near term in the case of mall locations/ select markets,” Tata added.
Established in 1998 as part of the Tata Group, Trent Ltd operates Westside, a chain of fashion retail stores as well as Landmark and Zudio fashion stores. Through a joint venture with Spain’s Inditex, Trent also operates the fashion brand Zara in India.
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