Trent Limited, a part of Tata Group and one of India's leading chains of fashion retail stores, has reported 98 per cent hike in revenues to ₹492 crore during first quarter (Q1) of FY22 ended on June 30, 2021, compared to ₹248 crore in the same period of prior fiscal. However, the company incurred net loss of ₹138 crore (Q1 FY21: loss ₹184 crore).
Trent Limited, a part of Tata Group and one of India's leading chains of fashion retail stores, has reported 98 per cent hike in revenues to ₹492 crore during first quarter (Q1) of FY22 ended on June 30, 2021, compared to ₹248 crore in the same period of prior fiscal. However, the company incurred net loss of ₹138 crore (Q1 FY21: loss ₹184 crore).#
“The second wave and the aftermath disrupted our operations across our concepts in the recent months. Nevertheless, we have been pleasantly encouraged by the rapid recovery in customer offtake starting from the middle of June as the business reopened in many markets,” Noel N Tata, chairman at Trent Limited, said in a press release. “Our fashion business has, in particular, recovered sharply and is now back to operating profitability.”
Trent Limited, a part of Tata Group and one of India's leading chains of fashion retail stores, has reported 98 per cent hike in revenues to ₹492 crore during first quarter (Q1) of FY22 ended on June 30, 2021, compared to ₹248 crore in the same period of prior fiscal. However, the company incurred net loss of ₹138 crore (Q1 FY21: loss ₹184 crore).#
For the first quarter, total expenses stood at ₹675 crore (₹496 crore), while profit before tax recorded a loss of ₹164 crore (loss: ₹231 crore).
Trent Limited, a part of Tata Group and one of India's leading chains of fashion retail stores, has reported 98 per cent hike in revenues to ₹492 crore during first quarter (Q1) of FY22 ended on June 30, 2021, compared to ₹248 crore in the same period of prior fiscal. However, the company incurred net loss of ₹138 crore (Q1 FY21: loss ₹184 crore).#
“We continue to focus on our expansion programme and I am happy to report that we are seeing good progress on building a strong pipeline, even as the constraints for actual opening to customers remains a challenge in the near term in the case of mall locations/ select markets,” Tata added.
Trent Limited, a part of Tata Group and one of India's leading chains of fashion retail stores, has reported 98 per cent hike in revenues to ₹492 crore during first quarter (Q1) of FY22 ended on June 30, 2021, compared to ₹248 crore in the same period of prior fiscal. However, the company incurred net loss of ₹138 crore (Q1 FY21: loss ₹184 crore).#
“We are confident that the business has the expertise and importantly the resilience to weather this crisis. Near term uncertainties notwithstanding, we are continuing to focus on building out differentiated brands and strong expansion of our reach through stores and digital platforms,” Tata concluded in the release.
Fibre2Fashion News Desk (JL)
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