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Trent net profit falls to Rs 11.43 cr in September quarter

By Sujata Sachdeva

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Retail chain Trent has reported that its standalone net profit dropped to Rs 11.43 crores in the September quarter, compared with Rs15.6 crores a year ago, against analysts’ expectations. Total revenue for the quarter increased 27.51 percent to Rs 375.05 crores from Rs 290.20 crores in the year-ago quarter.

Part of the Tata Group, Trent operates Westside and Star Bazaar stores. A Bloomberg poll of three analysts had estimated net profit at Rs 15.37 crores and net sales at Rs 362 crores for the quarter under review. However, the results for the quarter are not comparable with the corresponding quarter in the previous year, as it includes the results of Landmark, Fiora Link Road Properties and Trexa Admc. These companies were amalgamated with Trent in April this year, the company said in a statement to BSE.

The only company to have successfully formed a joint venture with UK’s retail major Tesco, Trent Hypermarkets, recently launched a separate company to open and operate its hypermarket stores in states that don't allow foreign investment in multi-brand retail, such as Gujarat and Tamil Nadu. Of the sixteen stores under the Star brand, four were in Gujarat and Tamil Nadu that are opposed to FDI in retail. Trent has divested those stores into a separate subsidiary called Fiora Hypermarkets.

Trent