Trent Q4 results: Reports net profit of Rs 17 cr; revenue at Rs 906 cr

Trent Q4 results: Reports net profit of Rs 17 cr; revenue at Rs 906 cr [ad_1]

NEW DELHI: Tata group retail agency on Friday reported a consolidated net profit of Rs 17.44 crore for the fourth quarter ended March 2021.

The firm had posted a net profit of Rs 3.21 crore within the January-March interval a 12 months in the past, Trent stated in a BSE submitting.

Its revenue from operations was at Rs 905.54 crore throughout the quarter beneath evaluate. It was Rs 842.93 crore within the corresponding interval of final fiscal.

Total bills stood at Rs 913.90 crore in Q4 FY 2020-21.

Trent stated its monetary efficiency for the present quarter and 12 months aren’t comparable with the earlier fiscal because it has been impacted by COVID- 9-related developments.

“Given the circumstances, the results for the current quarter and year are not comparable with that of the corresponding quarter and previous year,” it stated.

Trent Chairman Noel N Tata stated, “As I look back at the last financial year, we are very encouraged by the consistent and strong recovery of demand for our concepts in many markets across the country, when the pandemic related restrictions eased.”

“We continued to emphasise our expansion program and I am happy to report that we have over 300 fashion stores in our portfolio and a significant number of additional locations fitted-out and ready to open,” he stated.

For the fiscal 12 months 2020-21, Trent reported a net loss of Rs 181.13 crore. It had posted a net profit of Rs 105.97 crore within the earlier 12 months.

Its revenue from operations for the whole fiscal was at Rs 2,592.95 crore. It was Rs 3,485.97 crore in 2019-20.

Over the medium-term outlook, the corporate stated it’s “cautiously optimistic”.

“While we can not predict how rapidly we are going to see the again of this disaster, we all know that it’s going to get behind us, particularly given the substantial vaccination program. And when it does abate, buyer demand ought to rebound strongly presumably beginning within the 2nd quarter.

“We are confident that the business has the expertise and importantly the resilience to weather this crisis,” stated Tata.

Trent would proceed to give attention to constructing differentiated manufacturers and powerful enlargement of its attain via shops and digital platforms, it added.

Meanwhile, the corporate in a separate submitting stated its board at its assembly held on Friday really helpful a dividend of Rs 0.60 per fairness Share of Re 1 every.

Established in 1998 as half of the Tata group, Trent Ltd operates Westside, one of India’s main chains of vogue retail shops, Trent Hypermarket, which operates within the aggressive meals, grocery and each day wants phase, Landmark Stores and Zudio.

Shares of Trent Ltd on Friday settled at Rs 777.15 on the BSE, up 0.11 per cent over the earlier shut.

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