Trent's Q2 net profit increases 41% to Rs 193 crore

11 Nov 2022 , 09:31 AM

Trent, the retail division of the Tata Group, stated on Thursday that strong sales helped to boost its standalone net income by 41% year over year to Rs 193 crore. According to a statement from the company, revenue–including GST–rose 78% to Rs 1,929 crore, the largest amount ever for a quarter.

Consolidated sales increased by 66% to Rs 1,952 crore, and the business recorded a net profit of Rs 93 crore in the second quarter of the current fiscal year. The firm continues to broaden its reach and strengthen its lifestyle offerings across ideas, categories, and channels, according to Trent’s Chairman Noel Tata, who noted that its fashion concepts once again demonstrated strong growth momentum in the second quarter.

Trent manages five brands and formats, including the upscale Westside, the value-oriented Zudio, the Star and Trent Hypermarket banners for food, grocery, and daily necessities, and Landmark Stores for family entertainment.

The business operates more than 500 outlets in total across these five models. Over 6% of Westside’s sales came from online sources on Westside.com and other Tata platforms, representing a 32% increase, according to Tata. According to him, the growing markets which included footwear, innerwear, and the beauty and personal care industries contributed more than 15% of sales.

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