Trent’s Q2 net profit down to Rs 17 crore
Tata Group-owned Trent Ltd saw its net profit for the second quarter ended September 2019 drop to Rs 17 crore ($3.4 million) as against Rs 21 crore it had reported in the year-ago period.
The company’s revenue for the quarter rose to Rs 898 crore as against Rs 653 crore it had reported in the corresponding quarter of the last fiscal year. Trent has brands such as Westside, Star, Landmark, and Zudio.
Trent’s expenses for the quarter also increased to Rs 848 crore as compared to Rs 604 crore it had reported during the same period last fiscal.
The company’s sales from fashion retail store Westside increased by 23 percent for the six months ended September 30, 2019, as compared to the corresponding previous period.
Trent also acquired 51 percent of the equity share capital of Booker India Private Ltd (BIPL) for a consideration of Rs 22 crore during the quarter.
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 up to Rs 1,550 crore during the current financial year to fund its expansion plans in the country.
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