Spanish fashion brand Zara’s profit after tax (PAT) in the Indian market dipped 13.43 per cent to Rs 71.49 crore in FY 2018-19.
According to a PTI report: Inditex Trent Retail India Private Ltd (ITRIPL), an association of Tata group’s retail arm Trent, which is engaged in operation of Zara stores in India, had reported a PAT of Rs 82.59 crore in FY 2017-18.
However, ITRIPL had reported an increase of 17.69 percent in its total revenue of Rs 1,437.87 crore for the period under review, said Trent Ltd in its latest annual report.
For the year 2017-18, this was Rs 1,221.67 crore.
ITRIPL is a 51:49 JV between Trent and Spain-based global fashion retailer Inditex SA — which owns several brands including Zara.
ITRIPL also operates another label Massimo Dutti in India.
“The entity for Massimo Dutti operates 3 stores and recorded total revenue of Rs 63.58 crore in FY19,” it said.
The JV has added two more stores during the fiscal and is currently operating 22 stores of Zara in Delhi, Mumbai, Bangalore, Pune, Surat, Jaipur, Chandigarh, Chennai, Mohali, Hyderabad, Kolkata and Gurgaon.
“The incremental store opening program for Zara continues to be calibrated,” it said.