Trent Ltd’s Q3 net profit up 22 percent to Rs 54 crore
Tata Group Company, Trent Ltd, reported a 22 percent surge in its net profit to Rs 54 crore ($7.6 million) for the third quarter ended December 2019, as against Rs 44 crore it had reported in the corresponding quarter last year.
The company’s net sales for the October-December quarter rose 45 percent to Rs 988 crore, as compared to Rs 680 crore reported in the year-ago period.
Trent’s tax expenses for the quarter under review stood at Rs 9 crore, declining 65 percent from Rs 26 crore reported in Q3 December 2018.
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.
The company had earlier announced that it will raise Rs 1,550 crore during the current financial year to fund its expansion plans in the country.
Trent is engaged in the retail sale of readymade garments and primarily operates stores across formats: Westside, Star, Zudio, and Landmark.
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