Trent rises after robust Q3 outcome

11 Feb 2022 , 09:27 AM

Profit before tax surged 75.32% to Rs 157.26 crore in Q3 FY22 from Rs 89.70 crore posted in Q3 FY21. Trent said consumer sentiment continued to recover in Q3 on the back of the maturing vaccination drive, further relaxation of pandemic related restrictions and the festive season.

Trent said Westside registered revenues of over Rs 1,000 crore for the quarter with LFL growth of 9% and 49% vis-?-vis FY20 (pre-covid) and FY21 respectively.

Speaking on the performance, Noel N Tata, chairman of Trent said, ?The third quarter witnessed a strong business rebound and we have been pleasantly encouraged by the rapid recovery in customer offtake. In many ways, the playout in Q3 is indicative of the performance potential of our brands both in terms of growth as well as profitability. Our prospects remain robust owing to an accelerating shift to branded products, emergence of digital/seamless channels of engagement and a growing appetite for aspirational yet strong value propositions. On the fashion front, we are on-track to have more than 425 fashion stores by March 2022. Increasingly, our Star food business with tight footprint stores, sharp pricing and focus on fresh & own brands is a model that is witnessing resilient customer traction. The performance of Star stores operating under this model is encouraging and we continue to evolve our property portfolio to align with this proposition. Given the milder playout of the Omicron wave and the mature vaccination drive, I increasingly believe we are moving on to the next phase of recovery and growth. We are confident that the business has the expertise and importantly the ambition to pursue market opportunities with an integrated back end and nevertheless differentiated customer propositions. We remain committed to building out differentiated brands and a strong expansion of our reach through stores and digital platforms.?

As of date, Trent said it operates 197 Westside and 177 Zudio stores. The Tata Group company further said it remains focused on accelerating store expansion program.

Meanwhile, the companys board declared an interim dividend of Re 0.60 per equity share.

Trent operates Westside, one of Indias leading chains of fashion retail stores, Trent Hypermarket which operates in the competitive food, grocery and daily needs segment under the Star banner and Landmark Stores.

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