29 April 2023, Mumbai
Trent Limited, the retail arm of Tata Group, has reported its consolidated financial results for the period ended March 31, 2023. The company's total income for the quarter was Rs. 2,268.06 crores, down 4.11% from Rs. 2,365.24 crores in the previous quarter. The company's net profit for the quarter stood at Rs. 54.16 crores, down from Rs. 167 crores in the previous quarter.
On a year-on-year basis, the company's total income for the quarter has risen by 65.19% from Rs. 1,372.97 crores in the same period last year. The net profit for the quarter has surged by 33,750.00% to Rs. 54.16 crores from Rs. 0.16 crores in the same period last year.
For the financial year ended March 31, 2023, the company's total income stood at Rs. 8,502.94 crores, up 81.95% from Rs. 4,673.23 crores in the previous year. The net profit for the financial year was Rs. 444.69 crores, up from Rs. 105.83 crores in the previous year.
Trent Limited operates a range of retail formats in India, including Westside, Zudio, and Landmark, among others. The company has been expanding its presence in the Indian retail market through a combination of store expansions and e-commerce initiatives. As of March 31, 2023, Trent Limited operated 154 Westside stores, 53 Zudio stores, and 5 Landmark stores across the country.
While Trent Limited's quarterly financial results show a decline in total income and net profit, the year-on-year comparison paints a different picture of significant growth in both areas. The company's strong performance over the financial year ended March 31, 2023, is a positive sign for the retail industry, which has been facing challenges due to the ongoing pandemic.
