Tata group retail firm Trent Ltd on Friday reported a consolidated net profit of Rs 17.44 crore for the fourth quarter ended March 2021. The company had posted a net profit of Rs 3.21 crore in the January-March period a year ago, Trent said in a BSE filing.
Its revenue from operations was at Rs 905.54 crore during the quarter under review. It was Rs 842.93 crore in the corresponding period of last fiscal. Total expenses stood at Rs 913.90 crore in Q4 FY 2020-21. Total expenses stood at Rs 913.90 crore in Q4 FY 2020-21.
Trent said its financial performance for the current quarter and year are not comparable with the previous fiscal as it has been impacted by COVID- 9-related developments. "Given the circumstances, the results for the current quarter and year are not comparable with that of the corresponding quarter and previous year," it said.
Trent Chairman Noel N Tata said, "As I look back at the last financial year, we are very encouraged by the consistent and strong recovery of demand for our concepts in many markets across the country, when the pandemic related restrictions eased."
"We continued to emphasise our expansion program and I am happy to report that we have over 300 fashion stores in our portfolio and a significant number of additional locations fitted-out and ready to open," he said.
For the fiscal year 2020-21, Trent reported a net loss of Rs 181.13 crore. It had posted a net profit of Rs 105.97 crore in the previous year. Its revenue from operations for the entire fiscal was atRs 2,592.95 crore. It was Rs 3,485.97 crore in 2019-20.
Over the medium-term outlook, the company said it is "cautiously optimistic". "While we cannot predict how quickly we will see the back of this crisis, we know that it will get behind us, especially given the substantial vaccination program. And when it does abate, customer demand should rebound strongly possibly starting in the 2nd quarter.
"We are confident that the business has the expertise and importantly the resilience to weather this crisis," said Tata. Trent would continue to focus on building differentiated brands and strong expansion of its reach through stores and digital platforms, it added.
Meanwhile, the company in a separate filing said its board at its meeting held on Friday recommended a dividend of Rs 0.60 per equity share of Re 1 each. Established in 1998 as part of the Tata group, Trent Ltd operates Westside, one of India's leading chains of fashion retail stores, Trent Hypermarket, which operates in the competitive food, grocery and daily needs segment, Landmark Stores and Zudio.
Shares of Trent Ltd on Friday settled at Rs 777.15 on the BSE, up 0.11 per cent over the previous close.