Tata Group retail firmTrent Ltd on Wednesday posted 27.87 per cent increase in its net profit for the first quarter ended June 30, 2011 at Rs 10.23 crore.
The company’s net profit during the first quarter of the last fiscal stood at Rs 8 crore, it said in a filing to the Bombay Stock Exchange.
Trent’s net sales for the three months ended June 30, 2011, increased 16.85 per cent at Rs 179.80 crore, compared to Rs 153.87 crore in the first quarter of 2010-11.
"The results for the quarter were affected by the levy of 10 per cent excise duty on branded apparels," the filing said.
During the quarter, the company opened three new ‘Westside’ stores and one new ‘Fashion Yatra’ store taking the total number of Westside stores to 57 and the total number of stores including other formats such as Fashion Yatra and Sisley to 69, the filing added.
The company’s scrips were trading at Rs 1,217 per share, up 1.55 per cent from the previous close on the BSE.
Source : Economic Times