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.
Trent Ltd witnessed a 51 percent jump in its net profit to Rs 58 crore ($8.5 million) for the first quarter ended June 2019 as against Rs 38 crore it had reported in the corresponding quarter last fiscal.
Tata Group has invested over Rs 1,150 ($172.9 million) in its consumer business including in Tata UniStore which owns its e-commerce site Tata Cliq as well as in Trent which owns the fashion and lifestyle chain Westside.
Spanish fast fashion retailer Zara saw its net profits in India drop by 13.4 percent during the 2019 financial year to Rs 71.49 crore ($10.75 million) although revenue had increased by 17.7 percent to Rs 1,438 crore.
Tata Group plans to increase its stake in its retail arm Trent from 33 percent to 37 percent as its holding company Tata Sons increases its stake from 28 percent to 33 percent for Rs 950 crore ($137 million).