Companies

Trent Retail posts ₹29-cr profit in Q4

Our Bureau Mumbai | Updated on May 03, 2021

Revenues rises 7% to ₹906 crore

Tata’s Trent Retail profit after tax as attributable for Q4 of FY21 was ₹29 crore compared to ₹13 crore in Q4 FY20 thus, recording a 123 per cent increase from the previous fiscal. The consolidated revenues of ₹906 crore was a growth of 7 per cent over the corresponding previous period.

However, it has reported a net loss of ₹181 crore for FY21, compared to a profit of ₹105-crore profit in the previous fiscal. Its revenue from operations for FY21 dropped to ₹2,592.95 crore from ₹3,485.97 crore the previous fiscal. This comes even as the company has reduced its expenses by 15 per cent.

“The company’s financial performance for the current quarter and year has been impacted by the Covid- 19 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,” Westside’s parent company said.

Also read: Tata Group stitching its own Zara and at half the price, too

The company’s board of directors has recommended a dividend of ₹0.60 per equity share aggregating to ₹2,132.93 lakh in respect of the year ended March 31, 2021.

Noel N Tata, Chairman, Trent Limited, said that he is cautiously optimistic. “As I look back at the last financial year, we are very encouraged by the consistent & 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 programme 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 & ready to open.

“We are cautiously optimistic on the medium-term outlook. Near term uncertainties notwithstanding, we are continuing to focus on building out differentiated brands and strong expansion of our reach through stores and digital platforms.”

Established in 1998 as part of the Tata Group, Trent Ltd. operates Westside a fashion retail stores, Trent Hypermarket that operates in the food, grocery and daily needs segment under the Star banner, Landmark Stores, a family entertainment format store & Zudio which is a one shop destination to get fashion.

Published on May 03, 2021

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