Trent reported a consolidated net loss of Rs 20.87 crore in Q4 FY22 as against a net profit of Rs 17.44 crore in Q4 FY21.
Net sales during the quarter increased by 46.7% YoY to Rs 1,328.86 crore.
Total expenditure rose by 50.3% YoY to Rs 1,203.84 crore in Q4 FY22 from Rs 800.98 crore in Q4 FY21. Interest costs were Rs 81.43 crore (up 26.6% YoY) and depreciation charges were Rs 88.98 crore (up 31.2% YoY) in the fourth quarter.
The company posted a pre-tax loss of Rs 1.28 crore in Q4 FY22 as against a pre-tax profit of Rs 39.87 crore in Q4 FY21.
Current tax outgo during the period under review was Rs 20.32 crore. Tax outgo in the corresponding quarter last fiscal was Rs 0.21 crore.
"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.
The Tata Group's retail firm recorded a net profit of Rs 34.60 crore in FY22 as against a net loss of Rs 181.13 crore in FY21. Net sales increased by 73.5% to Rs 4,498.02 crore in FY22 over FY21.
Noel N Tata, Chairman, Trent Limited 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 5000 cr and commands encouraging market presence and traction.
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.
Trent operates Westside, one of India's leading chains of fashion retail stores, Trent Hypermarket which operates in the competitive food, grocery and daily needs segment under the Star banner and Landmark Stores.
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