Tata Group’s Trent Ltd reported a 126 percent rise in net profit to Rs 393 crore ($46.8 million) for the first quarter ended June 30, as against Rs 173 crore in the year-ago quarter.
The company’s revenue for the quarter rose by 56 percent to Rs 4,104 crore, as against Rs 2,628 crore in the corresponding quarter of the previous year.
Commenting on the results, Noel N Tata, chairman of Trent Limited in a statement said, “The market opportunity associated with building brands and a pure play direct-to-customer business like ours is immense. We plan to continue expansion and deepen store presence to be closer to customers and reinforce brand promise.”
“The overall market sentiment remains subdued with increased competitive intensity. On our part, we continue to witness encouraging traction for our lifestyle offerings across brands, concepts, categories and channels. Focus on delivering consistent and improved value propositions to keep us relevant for our customers,” he added.
During the April-June quarter, Trent opened 25 stores to end its store portfolio with 228 Westside, 559 Zudio, and 36 stores across other lifestyle concepts.
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