Trent’s Q2 revenues grow 2X, net profits reach Rs 79.9 crore
03 November 2021, Mumbai:
Tata’s retail arm Trent’s expenses during the second quarter jumped by 57 percent. And revenue from operations jumped twofold. It reported a consolidated net profit of Rs 79.99 crore for Q2. The company had posted a net loss of Rs 78.56 crore in the July-September quarter a year ago.
The second wave and its aftermath disrupted Trent’s operations in the first quarter. But there was a rapid recovery in customer offtake starting from the middle of June as business re-opened in many markets. Trent's fashion business has in particular recovered sharply and is now back to operating profitability.
However, constraints for actual opening to customers remain a challenge in the near term in the case of mall locations/ select markets. Trent is continuing to focus on building differentiated brands and strong expansion of its reach through stores and the digital platform.
The company continues to remain focused and committed to the accelerated store expansion agenda and also on the digital channel, as the online channel registered 95 percent growth in the second quarter over the previous quarter.
Established in 1998, as part of the Tata Group, Trent operates Westside, one of India's leading chains of fashion retail stores, Trent Hypermarket that operates in the competitive food, grocery, and daily needs segment under the brand name of Star banner, Landmark Stores and Zudio. The Zudio format is a value fashion business.
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