Trent Q1 Profit Jumps Over Three-fold to Rs 61.11 Crore

New Delhi: Tata group retail firm Trent Ltd on Thursday reported an over three-and-half-fold increase in standalone net profit at Rs 61.11 crore for the first quarter that ended on June 30, 2014-15, boosted by partial sale of stake in Trent Hypermarket to Tesco of the UK.

The company had posted a standalone net profit of Rs 17.34 crore for the the corresponding period of fiscal year 2013-14, it said in a filing to the BSE.

Net sales in Q1, 2014-15 stood at Rs 314.79 crore, as against Rs 241.44 crore in the year-ago period.

Exceptional items in Q1 represent profit of Rs 103.95 crore on sale of part equity shares held in Trent Hypermarket Ltd (THL) to Tesco and Rs 33.77 crore of costs related to restructuring of continuing operations of Landmark format, the company said.

Tesco had purchased some of the stake held by Trent in THL besides subscribing additional equity shares thereby making THL a 50:50 JV between the two partners.

Trent shares, on Thursday, ended at Rs 1182.75 on the BSE, down 1.44 per cent from the previous close.