Trent Ltd has posted a consolidated net profit of Rs 17.44 crore for the fourth quarter ended March 2021. The Tata group retail firm had reported a net profit of Rs 3.21 crore in the January-March period a year ago.
The company’s revenue from operations was at Rs 905.54 crore during the quarter under review. It was Rs 842.93 crore in the corresponding period of last fiscal.
Its total expenses stood at Rs 913.90 crore in Q4 FY 2020-21.
Trent said its financial performance for the current quarter and year are not comparable with the previous fiscal as it has been impacted by 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,” it added.
Noel N Tata, Chairman of Trent, 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 emphasize our expansion program 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,” he further stated.
Trent reported a net loss of Rs 181.13 crore for the fiscal year 2020-21. It had posted a net profit of Rs 105.97 crore in the previous year.