Trent Ltd posts Q3 net profit of Rs 74 crore
Trent Ltd, a Tata group retail firm, witnessed a 37 percent rise in its net profit at Rs 74 crore ($10.2 million) for the third quarter ended December 31, 2020, as against a net profit of Rs 54 crore it posted in the corresponding period last year.
However, the company’s revenue for the quarter under review was down 13 percent to Rs 896 crore, as against Rs 1028 crore it had reported in the year-ago period.
Speaking on the performance, Noel N, Tata chairman of Trent Limited, in a statement said: “We witnessed an encouraging festive season across our concepts as Covid related impacts receded. Nevertheless, given the headwinds, we continue to emphasize cost mitigation measures and realization of related efficiencies over the medium term.
“We are cautiously optimistic on the outlook and are broadly on track with respect to our store expansion program in FY21 with a significant number of store locations currently under fit out. Near term uncertainties notwithstanding, we are continuing focus on building out differentiated brands and strong expansion of our reach through stores and digital platforms,” he added.
Trent operates Westside chain of fashion retail stores and Zudio stores in the value format fashion segment.
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