Trent’s Q4 net profits touch Rs 11.66 crore

Tata Group’s retail firm Trent reported a standalone net profit of Rs 11.66 crore for Q4 ended March 31, 2018. Revenue from operations stood at Rs 528.72 crore for the quarter under consideration. It was Rs 448.36 crore in the same period a year ago.

Trent posted a net profit of Rs 25.26 crore for the corresponding period of the previous fiscal. The directors have approved a resolution for raising funds by issue of non-convertible debentures on a private placement basis, up to an amount not exceeding Rs 500 crore and up to an amount not exceeding Rs 200 crore, primarily to refinance the existing borrowings.

The board of directors has also recommended a 115 per cent dividend that is Rs 1.15 per equity share of Re 1 each, which shall be paid on or after August 14, 2018, it added. The company announced the results for the quarter and year ended on March 2018, includes results of value fashion business acquired by the company with effect from October 1, 2017. Therefore, results for the quarter and year ended on March 2018 are not similar with corresponding quarter and period of 2017.