Trent Witnesses Dip in Net Profit, Reaches Rs 2,022.66 cr in Q2
Trent Witnesses Dip in Net Profit, Reaches Rs 2,022.66 cr in Q2

Trent Ltd a part of Tata Company witnessed a drop in net profit marginally to Rs 78.94 crore in Q2 FY23 in comparison to a profit of Rs 79.99 crore in the same period last year. Trent’s total income rose to Rs 2,022.66 crore in Q2FY23 in comparison to Rs 1,225.52 crore for the corresponding period last year.

On a standalone basis, the company’s net profit increased to Rs 185.85 crore in Q2 FY23 as compared to Rs 125.62 crore in the same period in the last fiscal. A significant rise in expenses was witnessed at Rs 1,899.49 crore (Rs 1,116.57 crore).

On a consolidated basis, revenues at Rs 1,952 crore, grew 66 percent over Q2FY22 and 128 percent over Q2FY20. Profit after tax (attributable to equity shareholders) was at Rs 93 crore for Q2FY23.

Trent Ltd operates Westside, Zudio, Trent Hypermarket, Star banner, and Landmark stores.

“Our fashion concepts have once again displayed encouraging growth momentum in Q2FY23. We have been a company that makes strategic bets/ business model choices that in many cases involve standing away from the predominant and proximate market practices of the time. Completely own branded offerings, entirely direct-to-consumer reach, not discounting in season and not advertising are all cases in point,” said Noel N Tata, Chairman, Trent Limited.

Offline Growth

Westside registered an LFL growth of 20 percent in Q2FY20. At Westside, Trent continues to focus on the curation of the store portfolio to achieve an elevated brand experience even as it pursues its store expansion and improvement program.

Across Westside and Zudio, Trent has over 500 stores. Moreover, across concepts, the performance of new stores added in the last 12 months is encouraging and in line with its expectations, the performance giving Trent a reason to double down on the growth agenda over the medium term.

Online Growth

Online revenues through Westside.com and Tata platforms contributed over 6 percent of Westside revenues, registering a 32 percent growth in Q2FY23 over the corresponding quarter.

The brand stated it continues to invest significantly in resetting the technology stack across the entire value chain to make it commensurate with the growing scale and the growth agenda.

“We continue to expand our reach with vigor and reinforce our lifestyle offerings across concepts, categories, and channels. The growing acceptance of our brands demonstrates the attractiveness of our platform and the tremendous potential to address opportunities that lie ahead,” Tata added.

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