Retail division of Tata group company Trent Ltd has informed BSE about the unaudited financial results for the quarter ended September 30, 2008. According to a filing on BSE, the Mumbai-based company has posted a net profit of Rs 353.4 lakh in the second quarter of this year in comparison to Rs 913.30 lakh in the previous year.
However, net sales of the company rose to Rs 12,889 lakh in the three months ended September 30 up from Rs 11288.18 lakh last year.
The company, owner of Westside chain of retail outlets, has also disclosed in the filing that the performance for the quarter has been adversely impacted by a combination of factors. This includes slower growth due to current economic scenario, higher occupancy cost and operating expenses, and pre-opening expenses of new stores which have been fully charged off in this quarter.
The company further stated that during the quarter one Westside Store and one Star Bazar store were opened taking the total number of former to 32 and that of latter to four.