The Tata Group company Trent Limited announced a consolidated net profit of Rs. 45.01 crore on Thursday for the fourth quarter (Q4) that ended on 31st March 2023.
In the same quarter of the prior fiscal year, the company posted a combined net loss of Rs. 20.87 crore, according to a regulatory filing.
In Q4 FY ’23, the company’s total revenue increased by 65 per cent to Rs. 2,268.06 crore from Rs. 1,372.97 crore in the same period the year prior.
According to the BSE filing, its overall revenue for the fiscal year FY ’23 increased to Rs. 8,502.94 crore from Rs. 4,673.23 crore the year prior.
However, according to the regulatory filing, Trent’s overall expenses increased significantly as well, rising to Rs. 8,031.28 crore for the fiscal FY ’23 from Rs. 4,539.71 crore the year before.
For the entire FY ’23, the firm reported its highest-ever revenue. The company stated in a statement that the modification in the revenue profile across formats is consistent with its expansion strategy.
Speaking on the performance, Noel N Tata, Chairman, Trent Limited said, “Our lifestyle offerings across concepts, categories and channels are witnessing a strong momentum. We see growing relevance for our offerings, resilience of our business model choices and attractiveness of our differentiated platform.”
The company had 214 Westside, 352 Zudio, and 24 outlets spanning other lifestyle concepts in its portfolio as of 31st March 2023. The performance of the new stores that have been introduced over the past 12 months, across all concepts, is positive and in accordance with predictions.
The company stated in a statement that it is continuing to make large investments in modernising the technology stack along the entire value chain in order to make it compatible with the expanding scale and the growth plan.
