Quarter ended June 2021 compared with Quarter ended June 2020.

Net sales (including other operating income) of Trent has increased 98.06% to Rs 491.99 crore.  

Operating loss declined from Rs 123.75 crore to Rs 43.12 crore.  Purchase of finished goods cost fell from 87.10% to 68.78%.   Employee cost decreased from 37.45% to 15.12%.   Other expenses fell from 40.35% to 23.27%.   

Other income fell 3.37% to Rs 52.8 crore.  Provision for interest rose 18.63% to Rs 71.24 crore.  

Provision for depreciation rose 7.91% to Rs 68.52 crore.  

Loss before tax declined 32.48% to Rs -130.09 crore.  Share of profit/loss was 44.08% higher at Rs -21.73 crore.  Provision for tax was credit of Rs 25.43 crore, compared to credit of Rs 47.49 crore.  Effective tax rate was 15.53% compared to 20.51%.

Minority interest decreased 79.72% to Rs -11.70 crore.  Net loss attributable to owners of the company declined 28.69% to Rs -126.59 crore.  

Promoters' stake was 37.01% as of 30 June 2021 ,compared to 37.01% as of 30 June 2020 .  

Management Commentary

Speaking on the performance, Mr. Noel N Tata, Chairman, Trent Limited said, "The second wave and the aftermath disrupted our operations across our concepts in the recent months. Nevertheless, we have been pleasantly encouraged by the rapid recovery in customer offtake starting from the middle of June as the business reopened in many markets. Our fashion business has, in particular, recovered sharply and is now back to operating profitability. We continue to focus on our expansion program and I am happy to report that we are seeing good progress on building a strong pipeline, even as the constraints for actual opening to customers remains a challenge in the near term in the case of mall locations/ select markets. While we cannot predict how quickly we will see the back of this crisis, we know that it will get behind us, especially given the substantial vaccination program. And when it does abate, customer demand should further grow robustly. We are confident that the business has the expertise and importantly the resilience to weather this crisis. Near term uncertainties notwithstanding, we are continuing to focus on building out differentiated brands and strong expansion of our reach through stores and digital platforms."