Trent Ltd reports Q2 net loss of Rs 79 crore

Tata group retail firm Trent Ltd reported a consolidated net loss at Rs 79 crore ($10.7 million) for the second quarter ended September 30, as against a net profit of Rs 17 crore in the July-September quarter a year ago.

The company’s revenue for the quarter stood at Rs 585 crore, as against Rs 866 crore in the corresponding quarter of the last fiscal year.

Commenting on the performance, Trent chairman, Noel N Tata, in a statement said: “We are witnessing encouraging recovery playing out across our concepts even as Covid related concerns continue. The improving consumer traction coupled with growing acceptance/adoption of safety protocols by key stakeholders is welcome.”

“As the recovery rate of Covid cases continues to improve, we are cautiously optimistic on the outlook for accelerating recovery and return to profitability in the second half. 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. It currently has 166 Westside and 88 Zudio stores across the country.