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Tata group-owned retail firm Trent Ltd on Friday reported a consolidated net profit of Rs 321.64 crore for the fourth quarter ended March 2020. The company had posted a net loss of Rs 418.99 crore in the January-March period a year ago, Trent said in a BSE filing.

According to a PTI report: Revenue from operations was at Rs 842.93 crore during the quarter under review. It stood at Rs 694.32 crore in the corresponding quarter last fiscal.

Commenting on the results, Noel N Tata, Chairman,Trent told PTI: “We are pleased to report continued pursuit of our growth agenda coupled with an encouraging operating performance especially in our lifestyle businesses. Led by the own branded offer, Westside continued to perform well and registered a double digit like to like growth prior to the COVID-19 related developments.”

“The Zudio concept has also seen strong traction with the opening of 41 new stores in the financial year. Further, the Star food business saw strong traction from customers following transition to a significantly sharper value proposition starting June 2019,” he was quoted by PTI as saying.

Trent’s total expenses stood at Rs 887.77 crore in Q4 FY2019-20.

Meanwhile, the company said its result was not comparable as Trent and its subsidiaries adopted Ind AS 116 norms.

Trent, which operates retail chain Westside and Zudio concept stores, said operations have been “impacted by the various COVID-19 pandemic related developments.”

For the fiscal year 2019-20, Trent posted a net profit of Rs 105.97 crore. It was Rs 94.83 crore in the previous year.

Revenue from operations in the fiscal was Rs 3,485.97 crore. It stood at Rs 2,630.24 crore in 2018-19.

On the outlook, the company said in addition to its food stores, certain outlets retailing fashion products under Westside, Zudio and Utsa have since reopened over the last fortnight. As of date, 70 stores have commenced operations in accordance with local regulations and adoption of various safety practices.

“We are confident that following this unprecedented pause, our growth and profitability will continue to accelerate on the back of sustained focus on differentiated brands & customer experience across our concepts and strong expansion of the store network in the year ahead,” Noel further told PTI.

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“We are looking at opening four more store in a month’s time in Delhi which are between 400 to 475 sq.ft in size and then we are doing one more store in Pune which is going to be around 600 sq,ft. This will take our tally to six of such operational stores. In total we will take this expansion to around 50 stores of this size by the next calendar year. With this format we have started our franchising partnerships for the first time,” Rahul Jashnani, Managing Director, Jashn said.

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The Mumbai store is Alcis Sports second exclusive brand store after Kochi, which opened up last month. The company will soon open up other exclusive stores across the country and plans to have 15 exclusive brand stores within the next 12 months spanning all the major cities of India.

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• Quality Brand India Award2016-2020.

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Domestic Retail Expansion Plans: It is planning to open more exclusive stores across India. Oner is also focusing on non-winter markets like South and West India.

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Mehta thanked the Finance Minister for enhancing the allocation for the Special Scheme for the apparel sector from Rs 6,000 crore in 2017-18 to Rs 7,148 crore for 2018-19. While extending government contribution of 12 percent towards EPF of new employees, which was an element in the special package, to all sectors, its applicability has also been extended to the next three years. This will provide an additional momentum to hiring of workers by the apparel industry, he said.

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