Trent Ltd., the retail arm of prestigious Tata Group, has reported a consolidated net profit of Rs. 17.44 crore in fourth quarter ended March 2021 while its revenue recorded Rs. 906 crore.
The revenue was Rs. 842.93 crore in the corresponding period of last fiscal.
The company had posted a net profit of Rs. 3.21 crore in the January-March period a year ago.
The company said that its financial performance for the current quarter and year are not comparable with the previous fiscal as it has been impacted by COVID-related developments.
For the fiscal year 2020-21, Trent reported a net loss of Rs. 181.13 crore. It had posted a net profit of Rs. 105.97 crore in the previous year.
Noel N. Tata, Chairman, Trent Ltd. said, “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 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 and ready to open.
Over the medium-term outlook, the company said it is ‘cautiously optimistic’.
Trent would continue to focus on building differentiated brands and strong expansion of its reach through stores and digital platforms, it added.
Trent Ltd. operates Westside, one of India’s leading chains of fashion retail stores, Trent Hypermarket, which operates in the competitive food, grocery and daily needs segment, Landmark Stores and Zudio.