Breaking News

Tata's Retail Trent Q1 net profit at Rs 114.93 crore; revenue rises to Rs 1,803 crore

 Tata group retail firm Trent Ltd on Thursday reported a consolidated net profit of Rs 114.93 crore in the first quarter of the current financial year.

The company had posted a net loss of Rs 138.29 crore in the April-June quarter a year ago, Trent said in a BSE filing.

Its revenue from operations during the quarter under review stood at Rs 1,803.15 crore, up over three-fold from the pandemic-hit corresponding quarter a year ago. Trent's revenue from operations in the April-June quarter of FY22 was at Rs 491.99 crore.

Total expenses of Trent were at Rs 1,734.,28 crore in Q1 FY23 as against Rs 674.88 of the corresponding quarter last fiscal. "The group's financial performance for the corresponding quarter of the previous year had been impacted by Covid-related business disruptions. The relative operating performance for a few weeks in Q4FY22 had also got impacted due to temporary restrictions imposed in wake of the third Covid wave. However, Covid-related disruptions have declined thereafter," said Trent.

Trent operates the retail business under its flagship brand Westside. Besides, it also operates Zudio and a hypermarket and supermarket store chain under the Star Market brand.

Shares of Trent Ltd on Thursday were trading at Rs 1,335 on the BSE, up 1.83 percent over the previous close.

No comments