Home Big Grid Trent reports net profit of Rs 17 cr for Q4, FY21

Trent reports net profit of Rs 17 cr for Q4, FY21

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Trent Ltd has reported a consolidated net profit of Rs 17.44 crore for the fourth quarter ended March 2021, according to PTI.

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.

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.

PTI quoted Trent Chairman Noel N Tata as saying, “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 at Rs 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,” it said.