Tata Group’s apparel retailer Trent Ltd., has achieved a 44 per cent jump in profit to Rs. 148.27 crore in the first quarter of current fiscal compared to Rs. 102.6 crore during the same period of last fiscal.
The company said in a filing that the stand-alone revenue from operations also grew 53.4 per cent from Rs. 1,652.86 crore reported in the previous period to Rs. 2,536.43 crore.
Trent operates 221 Westside, 388 Zudio and 23 stores across other lifestyle concepts. During the quarter, the company added 7 Westside and 40 Zudio stores across 35 cities.
A statement of the company said that Trent witnessed encouraging revenue growth during Q1 FY ’24 amidst relatively subdued market conditions. The change in the revenue profile across formats continues to remain aligned with its expansion strategy. The performance of the business and the growth momentum encourages us to continue with our expansion agenda over the medium and long term.
Online revenues through Westside.com and other Tata Group platforms contributed 4 per cent of Westside revenues for the quarter. Westside.com contributed 32 per cent of the overall online revenues.
