Trent’s net profits up 73.28%

Trent has posted a 73.28 per cent increase in its consolidated net profit for the year ended March 31,

2011, at Rs 2.53 crores. In 2009-10, the company’s consolidated net profit stood at Rs 1.46 crores. The net profit for 2010-11, includes Rs 1.05 crores received from sale of investments by a subsidiary of the company. The company’s net sales during the 12 month period ended March 31 increased 43.12 per cent at Rs 1,520 crores as against Rs 1,062 crores in the prior fiscal.

Trent is a Tata Group company. Established in 1998, Trent is a retail operations company that owns and manages a number of retail chains in India. It runs lifestyle chain Westside, one of India’s largest and fastest growing chain of lifestyle retail stores, Star Bazaar, a hypermarket chain, Landmark, a books and music chain, and Fashion Yatra, a complete family fashion store.

The consolidated results reflect the cost of incubation of the hypermarket business (now in Trent Hypermarket) and losses in its subsidiary Landmark. The losses incurred by the hypermarket business continued to be broadly in line with the business plan of the company. During the year, Trent opened 11 Westside stores, one Fashion Yatra store, four Star Bazaar stores and four Landmark stores taking the total number of outlets under various formats to 104. Trent’s board has recommended payment of dividend of Rs 7.50 per equity share of Rs 10 each on 2,00,56,877 equity shares and dividend of Rs 1 per redeemable preference share of Rs 1,000 each on 70,000 preference shares, for approval by the shareholders. The company’s scrip closed at Rs 1,013.45 per share, up 1.78 per cent from the previous close on the BSE.