MUMBAI: Trent, the Tata Group’s retail chain helmed by Noel Tata, has reported a consolidated net income of Rs 335 crore for the September quarter, up 47 per cent from Rs 228 crore in the year-ago period.
The company’s consolidated revenue rose 39 per cent to Rs 4,157 crore as against Rs 2,982 crore a year ago, the company said in an exchange filing on Thursday.
However, the Trent shares fell over 7 per cent to Rs 6,476 on the BSE as net profit fell 14 per cent on a sequential basis.
"Consumer sentiment has remained relatively muted. This coupled with seasonality has meant that retail businesses have faced headwinds. Despite this the company has delivered strong results across brands, concepts, categories and channels,” Noel Naval Tata, the chairman of Trent said.
He further said the company will continue to pursue expansion and deepen store presence with the aim of being ever closer to customers.
“Also, we seek to explore additional avenues of growth. The company recently launched its first international Zudio store in the UAE and the Zudio Beauty concept in the country.”
After applying the Trent playbook to the Star business the company is witnessing strong customer traction, Tata said, adding the success of own-brands augurs well for the Star business. He expressed confidence in the business to shift gears and deliver substantial value to customers and shareholders.
Trent has a portfolio of 831 fashion stores across 184 cities and 43 of them were opened during the reporting quarter. The store portfolio includes 226 Westside, 577 Zudio and 28 stores across other lifestyle concepts.
During the quarter, it opened seven Westside and 34 Zudio stores, including one in Dubai across 27 cities. It also consolidated nine Westside and 16 Zudio stores, it said.