Tata Group retail firm Trent Ltd on Wednesday reported a consolidated net loss of Rs 20.87 crore for the fourth quarter ended in March 2022. The company had posted a net profit of Rs 17.44 crore in the January-March quarter a year ago, Trent said in a BSE filing.

Its revenue from operations was at Rs 1,328.86 crore during the quarter under review, up 46.74 percent as against Rs 905.55 crore in the corresponding quarter last fiscal. Trent's total expenses were at Rs 1,364.64 crore in Q4/FY 2021-22.

"The business was impacted in January and February 2022 by the third wave of the pandemic. Nevertheless, consumer sentiment recovered strongly thereafter. During March, our fashion concepts registered growth compared to pre-pandemic levels," said Trent in the earning statement.

For the fiscal year 2021-22, Trent's reported a net profit of Rs 34.60 crore. Its revenue from operations for the fiscal was at Rs 4,498.02 crore against Rs 2,592.96 crore in 2020-21.

Commenting on the performance, Trent Chairman Noel N Tata said: "Our fashion concepts displayed resilience to pandemic-related challenges in FY22. Our continued emphasis on network growth during the preceding two years is starting to yield results as the pandemic impacts fade."

Westside is now trading at an annual revenue run-rate of over Rs 5,000 crore and commands encouraging market presence and traction, he added.

"Our Star food business with tight footprint stores, sharp pricing and focus on fresh & own brands is a model that is continuing to witness resilient customer traction. The performance of Star stores operating under this model is encouraging and we are evolving our property portfolio to align with this proposition," he added.

Shares of Trent Ltd on Wednesday settled at Rs 1,226.35 on the BSE, down 4.31 percent over the previous close.

First Published:Apr 27, 2022 7:46 PM IST