Tata all set to take on rivals with aggressive online foray

The 108 billion dollars (over Rs 6 lakh crores) Tata group, with businesses ranging from salt to software and tea to telecoms is now focusing on the launch of its e-commerce venture.

The venture will also see the launch of a digital platform for healthcare services and a renewed focus on Big Data analytics, using its newly launched data warehouse, by the end of the year. The group is all set to invest Rs1,000 crores on these proposed initiatives over the next five years to give tough competition to the ecommerce rivals. The proposed e-commerce platform will offer both Tata and non-Tata brands across lifestyle, electronics and other segments. The company has already partnered with 80 brands, which will be retailed online as well as through omni-channel platforms.

Meanwhile, Tata group retail firm Trent reported standalone net profit of Rs 16.06 crores for the first quarter ended June 30, 2015-16. The company had posted a standalone net profit of Rs 61.11 crores in the April-June quarter last fiscal. Net sales during the quarter under review stood at Rs 341.53 crores, while in the same quarter last fiscal it was Rs 314.79 crores, the company said in a BSE filing. However, the company said that the results of the quarter were not comparable with the corresponding period of previous fiscal, which included a net exceptional gain of Rs 70.18 crores.

Sales of Westside format for the quarter were higher by 16 percent compared to the corresponding period last fiscal, the company said. The company said during the quarter it sold its stake in equity Landmark E-tail at a loss of Rs 10 lakh.