Companies

Trent Q2 net profit dips to Rs 17.27 cr

Our Bureau Mumbai | Updated on November 08, 2019 Published on November 08, 2019

A Westside Store in Mumbai.   -  Bloomberg

Tata Group company, Trent, has reported a lower net profit of Rs 17.27 crore in Q2 of FY20 against Rs 21.14 crore reported in Q2 of FY19. Its expenses for the said quarter rose to Rs 848 crore from Rs 604 crore the previous corresponding quarter. Revenue also went up to Rs 898 crore from Rs 653 crore in the period under review.

The company, which announched its results on Thursday, has brands such as Westside, Star, Landmark, and Zudio. Trent’s sales from the Westside format increased by 23 per cent for the six months ended September 30, 2019, as compared to the corresponding previous period.

The company acquired 51 per cent of the equity share capital of Booker India Private Ltd (BIPL) for a consideration of Rs 22.41 crore during the quarter. Consequently, BIPL has become a subsidiary and its numbers would be considered in the consolidated financial statement for the period ended on September 30, 2019.

Published on November 08, 2019
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