Trent Q1 net profit more than doubles to Rs 393 crore

Mumbai, Aug 9 (IANS) Fashion major Trent Ltd on Friday reported a 126 per cent increase in consolidated net profit to Rs 392.6 crore for the April-June quarter of the current financial year, from Rs 173.48 crore in the same quarter of the previous financial year.
The revenue from operations for the Tata Group company came in at Rs 4,104.4 crore, up 56 per cent from Rs 2,628.37 crore in the same quarter last year, the company said in a regulatory filing.
The company’s EBIDTA margin rose to 14.91 per cent during the quarter compared to 13.93 per cent in the year-ago period.
Noel Tata, Chairman, Trent Limited is upbeat about the company’s outlook.
“The market opportunity associated with building brands and a pure play direct-to-customer business like ours is immense,” he remarked.
“The overall market sentiment remains subdued with increased competitive intensity. On our part, we continue to witness encouraging traction for our lifestyle offerings across brands, concepts, categories and channels. Focus on delivering consistent and improved value propositions to keep us relevant for our customers,” he added.
Trent opened 25 new stores during the first quarter. As part of the Tata group, Trent’s flagship concept, Westside offers branded fashion apparel, footwear and accessories for women, men and children, along with a range of home furnishings & decor.
With a presence in 178 cities, the company’s business has spread across 228 Westside stores, 559 Zudio and 36 stores across other lifestyle concepts.
–IANS
sps/pgh