Trent posts Q4 net profit at Rs 11.66 cr

Tata group retail firm Trent Ltd today reported a standalone net profit of Rs 11.66 crore for the fourth quarter ended March 31, 2018.

The company had posted a net profit of Rs 25.26 crore for the corresponding period of the previous fiscal, Trent Ltd said in a filing to the BSE.

Standalone revenue from operations of the company stood at Rs 528.72 crore for the quarter under consideration. It was Rs 448.36 crore in the same period a year ago.

The directors have approved an enabling resolution for raising of funds, through issue of commercial paper, up to an amount not exceeding Rs 200 crore, primarily to refinance the existing borrowings, Trent Ltd said.

The directors have also approved an enabling resolution for raising of funds by issue of non-convertible debentures on a private placement basis, up to an amount not exceeding Rs 500 crore, subject to the approval of shareholders, it added.

"The results for the quarter and year ended on March 2018 includes results of value fashion business acquired by the company with effect from October 1, 2017. Hence results for the quarter and year ended on March 2018 are not comparable with corresponding quarter and period of previous year," the company said.

The board of directors have also recommended a 115 per cent dividend that is Rs 1.15 per equity share of Re 1 each, which shall be paid on or after August 14, 2018, it added.

Shares of Trent today closed at Rs 343.35 per scrip on BSE, down 2.01 per cent from their previous close.