On a consolidated basis, the company reported profit before tax (PBT) of Rs 63.83 crore in Q4 FY23 as against a pre-tax loss of Rs 1.28 crore in Q4 FY22.

Total expenditure surged 61.79% YoY to Rs 2,207.89 crore in Q4 FY23. Purchase of finished goods jumped 38.03% to Rs 1,227.37 crore while employee expenses climbed 50.67% to Rs 177.52 crore.

The results for Q4 FY23 are not comparable with the corresponding quarter. This is given the change in profile & quantum of inventory provisioning, rent waivers etc between the quarters on account of the pandemic. Q4 FY22 had accounting for rent waivers and reversals relating to inventory provisioning. Accordingly, the CAGR of revenues and profitability versus FY20 on a full year basis is more representative of growth.

The Tata Group retail firm's consolidated net profit zoomed to Rs 444.69 crore in FY23 as against Rs 105.83 crore recorded in FY22. Net sales soared by 83.2% to Rs 8,242.02 crore in FY23 over FY22.

On a standalone basis, Trent registered the highest ever revenues for the full year FY23. The change in the revenue profile across formats is aligned with our expansion strategy. Operating EBIT margin for FY23 was 7.7% (7.4% for FY22 and 6.6% for FY20). The performance of the business and the growth momentum encourages us to continue with our expansion agenda over the medium term," the company said in a statement.

In Q4 FY23, Westside registered like-for-like (LFL) growth of 23% vis-à-vis Q4 FY22. However, the same is not representative given the Omicron wave in the corresponding previous quarter, said the company.

As of date, the company operates 214 Westside stores, 352 Zudio stores and 24 stores across other lifestyle concepts. The performance of new stores added in the last 12 months across concepts is encouraging and in line with expectations.

Online revenues through Westside.com and other Tata group platforms contributed 6% of Westside revenues. Emerging categories, including beauty and personal care, innerwear and footwear, now contribute to over 18% of the standalone revenues.

Speaking on the performance, Noel N Tata, chairman, Trent 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.

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.”

Further, the directors have recommended a dividend of Rs 2.20 per share, subject to the approval of shareholders. The company has fixed the record date as 25 May 2023 and dividend will be paid on or after 16 June 2023.

Trent is part of the Tata Group and operates a portfolio of retail concepts. The primary customer propositions of Trent include: Westside, one of India's leading chains of fashion retail stores, Zudio, a one stop destination for great fashion at great value and Trent Hypermarket, which operates in the competitive food, grocery and daily needs segment under the Star banner.

The scrip slipped 3.54% to Rs 1,331.25 on the BSE.