Trent Posts 60% Jump In Q1 Profit

Trent Posts 60% Jump In Q1 Profit
New Delhi: Tata Group retail firm Trent Ltd on Thursday reported a 60.62 per cent jump in standalone net profit at Rs 23.29 crore for the first quarter ended June 30, 2016.

The company had logged a net profit of Rs 14.50 crore for the corresponding period a year ago, it said in a filing to the BSE.

Net sales on a standalone basis were up 14.73 per cent at Rs 391.47 crore in the quarter under review as against Rs 341.20 crore in the year-ago period.

Meanwhile, in a separate filing, Trent informed BSE that its board in a meeting held on Thursday passed an "enabling resolution for raising of funds through issue of Commercial Paper up to an amount not exceeding Rs 150 crore".

Shares in Trent, on Thursday, ended 1.56 per cent higher at Rs 1,876.75 apiece on the BSE, whose benchmark Sensex index finished up 0.31 per cent.