Tata group retail firm Trent Ltd on Tuesday reported a consolidated net profit of Rs ₹79.99 crore for the second quarter ended September 2021.

The company had posted a net loss of ₹78.56 crore in the July-September quarter a year ago, Trent said in a BSE filing.

Its revenue from operations during July-September 2021 saw over twofold jump to ₹1,178.08 crore, compared with ₹585.37 crore in the year-ago period.

The company's total expenses during the quarter stood at ₹1,116.56 crore, a jump of 57.66 per cent as against ₹708.20 crore a year ago.

Trent Chairman Noel N Tata said, "The second wave and the aftermath disrupted our operations across our concepts in the first quarter. Nevertheless, we have been pleasantly encouraged by the rapid recovery in customer offtake starting from the middle of June as the business re-opened in many markets." Trent's fashion business has in particular recovered sharply and is now back to operating profitability, he said.

Trent is continuing to focus on building out differentiated brands and strong expansion of its reach through stores and digital platform, he said.

The company continues to remain focused and committed to the accelerated store expansion agenda and also on digital channel, as online channel registered over 95 per cent growth in Q2 over the previous quarter.

“We are confident that the business has the expertise and importantly the resilience to navigate and leverage this difficult phase.

"Near-term uncertainties notwithstanding, we are continuing to focus on building out differentiated brands and strong expansion of our reach through stores and digital platform," he said.

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Shares of Trent Ltd on Tuesday settled at ₹1,042.20 on the BSE, up 1.75 per cent over the previous close.

Published on November 2, 2021