Trent standalone profit after tax up by 36.8 percent in Q4

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Updated: April 30, 2019 1:32:38 AM

The value fashion store chain of Zudio also saw strong traction with the opening of 33 new stores in FY19, totalling to 40 stores operating at floor size of 5,000-8,000 sq ft.

Star Bazaar, which is operated under the joint venture between Trent-Hypermarket and Tesco, the multinational retailer headquartered in England, also progressed with focus on the Star Market format and own branded merchandise, Tata further informed.

Trent, the retail arm of Tata group, on Monday reported an increase of 36.8% y-o-y in standalone profit after tax (PAT) to `15.95 crore for three months ended March 2019.

The standalone profit before tax, before exceptional items, for FY19 was `189.6 crore, up by 10.5%, due to the improved operating performance of Westside, Zudio and Landmark format, as mentioned in the release. The consolidated revenue for FY19 was recorded at `2,630 crore, up from `2,158 crore in the previous financial year.

The total revenue for Q4 FY19 was `677.5 crore, higher by around 26% y-o-y. Revenue from Westside stores was higher by 17% y-o-y and the company recorded like-to-like sales of 9% for the year ended March 2019.

Commenting on the Trent’s performance, chairman Noel Tata said, “We are confident that going forward, our growth and profitability will continue to accelerate on the back of sustained focus on differentiated own brands and customer experience across formats and strong expansion of the store network.”

The retailer added 27 new stores of Westside reaching an aggregate of 145 stores across 76 cities, between store size of 8,000 sq ft and 34,000 sq ft.

The value fashion store chain of Zudio also saw strong traction with the opening of 33 new stores in FY19, totalling to 40 stores operating at floor size of 5,000-8,000 sq ft.

“In Landmark, despite the limited store footprint, the format continued to witness improving growth,” Tata said. Landmark which is the family entertainment format store has five operational store, chief commercial officer Venu Nair had told FE earlier.

Star Bazaar, which is operated under the joint venture between Trent-Hypermarket and Tesco, the multinational retailer headquartered in England, also progressed with focus on the Star Market format and own branded merchandise, Tata further informed.

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