Trent Ltd Q4 net profit jumps 37 percent to Rs 16 crore
Tata group retail firm Trent Ltd witnessed a 37 percent surge in standalone net profit at Rs 16 crore ($2.3 million) for the fourth quarter ended March 31, 2019, as against Rs 12 crore it had posted in the January-March quarter a year ago.
The company’s revenue rose 26 percent to Rs 677 crore during the quarter as compared to Rs 539 crore it had reported in the previous fiscal.
For the 2018-19 financial year, Trent’s profit was Rs 127 crore as against Rs 117 crore it had posted in the previous year. Total income in the last fiscal stood at Rs 2,568 crore as compared to Rs 2,109 crore in 2017-18.
Commenting on the performance, Noel N Tata, chairman at Trent Limited in a statement said, “We are pleased to report encouraging operational performance for the financial year coupled with strong growth. Led by the own branded offer Westside has continued to perform well and has seen the opening of 27 new stores, the most compared to any previous year. The Zudio value fashion format has also seen strong traction with the opening of 33 new stores in the financial year.”
“We are confident that going forward, our growth and profitability will continue to accelerate on the back of sustained focus on differentiated own brands & customer experience across formats and strong expansion of the store network,” he added.
Trent Ltd operates Westside, which sells products ranging from apparel, footwear, accessories to cosmetics and perfumes to home accessories. It currently has over 150 Westside stores across India.
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