Trent Ltd posts Q3 net profit of Rs 161 crore
Tata group retail firm Trent Ltd reported a consolidated net profit of Rs 155 crore ($18.8 million) in the third quarter ended December 2022, as against a net profit of Rs 114 reported in the year ago quarter.
The company’s revenue for the quarter was Rs 2,303 crore, as compared to Rs 1,499 crore in the third quarter of the financial year 2022. Trent's total expenses during the quarter were at Rs 2,190 crore.
Commenting on the results, Noel N Tata, chairman of Trent Limited in a statement said, “Our fashion concepts have continued to register encouraging growth momentum in Q3 FY23. We continue to expand our reach with vigour and reinforce our lifestyle offerings across concepts, categories, and channels. The growing acceptance of our brands demonstrates the attractiveness of our platform and the tremendous potential to address opportunities that lie ahead.”
“We have recently entered a Joint Venture with MAS Group, Sri Lanka. We see significant opportunities to leverage the growing reach of our brands to build a differentiated proposition in lingerie, activewear and related categories,” he added.
Trent Ltd currently operates 211 Westside stores, 326 Zudio stores and 21 stores across other lifestyle concepts.
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