New Delhi: Trent Limited, a part of the Tata Group, on Thursday has reported a consolidated net profit of Rs 45.01 crore in the fourth quarter (Q4) ended March 31, 2023. The company reported a loss of Rs 20.87 crore in the previous fiscal’s same quarter, it said in a regulatory filing.
Its total income jumped to Rs 2,268.06 crore in Q4 FY23 as against Rs 1,372.97 crore in the corresponding quarter of the previous fiscal.
As per the BSE filing, its total income for the financial year FY23 rose to Rs 8,502.94 crore as compared to Rs 4,673.23 crore in the previous financial year FY22.
However, Trent’s total expenses also grew at a high rate to Rs 8,031.28 crore for the fiscal FY23 from Rs 4,539.71 crore in the previous year FY22.
Speaking on the performance, Noel N Tata, Chairman, Trent Limited said, “Our lifestyle offerings across concepts, categories and channels are witnessing a strong momentum. We see growing relevance for our offerings, resilience of our business model choices and attractiveness of our differentiated platform.”
Leveraging our platform, we launched Samoh, our contemporary occasion wear concept. Samoh focuses on elegant, expressive, modern silhouettes and a new approach to wardrobe that emphasizes versatility and caters to an audience that appreciates a luxurious and modern take on cherished designs and motifs from the Indian hinterland.
We are also increasingly applying our playbook to the Star business and the strong customer traction we are witnessing gives us growing conviction of building-out this growth engine in the food and grocery space.
In the foregoing backdrop, we are continuing to expand the reach of all our concepts with the aim of being ever-more proximate and convenient to our customers. We are in the initial laps of our growth. I see much potential, led by our passionate teams, to address significant opportunities that lie ahead.”