Categories Earnings, Retail

Trent reported a 36 percent rise in its Q3FY23 net profit

Tata group retail firm Trent Ltd on Wednesday reported a consolidated net profit of INR 154.81 crore in the third quarter ended on December 31, 2022. The company had posted a net profit of INR 113.78 crore in the October-December quarter a year ago, Trent said in a regulatory filing.

Its revenue from operations was at INR 2,303.38 crore during the quarter under review compared to INR 1,499.08 crore in the third quarter of FY22. Trent’s total expenses were at INR 2,189.62 crore. According to the company, its results for Q3 FY23 “are not comparable” with the corresponding quarter and period of the previous year.

Trent’s Westside registered a growth of 17 per cent in same store sales. Currently, it operates 211 Westside stores, 326 Zudio stores and 21 stores across other lifestyle concepts. During the quarter, Trent entered into a 50:50 joint venture with Mas Group of Sri Lanka for design, development and manufacture of intimate wear, active wear and related apparel products, the company said.

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