May 03, 2018
Trent announces FY18 results
- Profit before exceptional items at Rs171.64 crore up by 56 percent led by strong operational performance
- Consolidated PAT from continuing operations at Rs87.04 crore up by 48 percent
Mumbai: Trent (the ‘company’), today announced its financial results for the fourth quarter and the fiscal year ended March 31, 2018 (standalone and consolidated).
- For the quarter, revenue from operations at Rs528.72 crore grew by 18 percent. Profit before exceptional items at Rs16.82 crore is higher by 313 percent as compared to the corresponding quarter of the previous year. The corresponding previous quarter includes exceptional item relating to sale of certain assets.
- For the year ended March 31, 2018, the company recorded revenues of Rs2,066.29 crore. Profit before tax (before exceptional items) was at Rs171.64 crore, higher by 56 percent, owing to improved operating performance and cost management in both Westside and Landmark formats.
- Revenues of Westside format for the year ended March 31, 2018, was higher by 20 percent (Like to Like 9 percent) as compared to the corresponding previous year.
- For the year ended March 31, 2018, the company recorded revenues of Rs2,157.46 crore. Profit before tax from continuing operations was at Rs146.66 crore, higher by 44 percent owing to improved operating performance across most banners operated by the company and its joint ventures.
- During the year, the company acquired the value fashion business of Trent Hypermarket (a joint venture of the company). The value fashion business is currently operated under the Zudio banner and affords significant growth opportunities. The company has increased the pace of roll out of independent Zudio stores and currently operates 7 such stores - an addition of 6 since March 2017.
The Board of Directors has recommended a Dividend of Rs1.15 per equity share aggregating to Rs46.07 crore including dividend distribution tax in respect of the year ended March 31, 2018.
Speaking on the performance, Noel N Tata, chairman, Trent, said, “We are pleased to report strong operational performance for the financial year coupled with robust growth. Westside has continued to perform strongly aided by its emphasis on own brands and has also opened the most number of new stores compared to any previous year. Landmark also has shown relative resilience in a challenging environment with positive growth figures. The Trent Hypermarket joint venture has increasingly crystallised its focus on the Star Market format and emphasis on rolling out a compelling range of own branded merchandise. We are confident that going forward, our growth and profitability will be sustained on the back of consistent focus on own brands across formats and growing emphasis on delivering a differentiated customer experience.”