Trent posts Rs 38 crore profit for third quarter
Tata group’s retail arm Trent Limited posted a net profit of Rs 38 crore (approx $ 6 million) for the third quarter ended December 2017, a similar figure to what it reported in the October-December quarter a year ago.
The company’s revenue increased to Rs 526 crore (approx $82 million) from the Rs 447 crore (approx $69.5 million) in the corresponding quarter last fiscal, the company said in a BSE filing.
However, the company in the filing stated: “the results for the quarter and period ended on Dec’17 include results of value fashion business acquired by the company with effect from 1st October 2017. Hence, results for the quarter and period ended on Dec'17 are not comparable with corresponding quarter and period of the previous year."
Trent runs and operates the Spanish fashion brand Zara in India through a joint venture Inditex Trent, between Inditex and the Tata Group. It also owns Westside, one of India’s largest and fastest growing retail chains.
During FY16, Trent reported consolidated total income of Rs 2464 crore (approx $378.3 million) and PAT (Profit after Tax) of Rs 63 crore (approx $9.7 million). Zara’s sales revenue for FY16-17 in India was Rs1023 crore ($157.3 million) while its profit was Rs 48 crore (approx $7.4 million), according to data from Trent Ltd’s annual report.
Trent Ltd currently operates 93 Westside stores and 18 Zara across the country.
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