Trent Ltd Q1 net profit jumps 51 percent to Rs 58 crore
Tata Group’s retail arm Trent Ltd witnessed a 51 percent jump in its net profit to Rs 58 crore ($8.5 million) for the first quarter ended June 2019 as against Rs 38 crore it had reported in the corresponding quarter last fiscal.
The company’s revenue for the quarter also rose by 30 percent to Rs 767 crore as against Rs 591 crore it had reported during the April-June quarter last fiscal.
The EBITDA stood at Rs 200 crore in June 2019 witnessing a 161 percent rise from Rs 77 crore it had reported for the first quarter in 2018.
Trent had recently announced that it will raise up to Rs 1,550 crore during the current financial year to fund its expansion plans in the country.
Trent Ltd is looking to strengthen its fashion vertical in India and plans to add as many as 40 stores for its flagship Westside chain every year. Along with Westside, the company will also add 100 Zudio stores.
Trent Ltd operates Westside and Zudio stores, which sell products ranging from apparel, footwear, accessories to cosmetics and perfumes to home accessories.
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