Trent posts Q4 net profit at Rs 11 crore

The retail arm of the Tata group, Trent today reported a standalone net profit of Rs 11.44 crore for the fourth quarter ended March 31.

The company had posted a net profit of Rs 24.96 crore for the March period of the previous fiscal, Trent said in a filing to the BSE.

The company's net sales on standalone basis during the quarter was Rs 322.07 crore. It was Rs 298 crore in the year-ago period.

For the full fiscal, Trent reported a consolidated net profit of Rs 129.33 crore. In financial year 2013-14 it had a net loss of Rs 18.55 crore in the year-ago period.

Trent's consolidated net sales from operation during the fiscal was Rs 2,236.76 crore. It was Rs 2,272.30 crore a year ago.

According to the Trent, its results are not comparable as British retail major Tesco picked up stake in 50 per cent stake in Trent Hypermarket Ltd (THL) during the year.

"The consolidated results of the company for year ended March 31, 2015 reflect the change in status of THL from wholly owned subsidiary to a joint venture entity and hence the consolidated results for the year are not comparable with that of previous year," Trent said.

Meanwhile, in a separate filing, Trent informed that its board has recommended a dividend of Rs 7.50 per equity share and a special dividend of Rs 2.50 per equity share of Rs 10.

It further said that the board has appointed its Chief Financial Officer P Venkatesalu as an Executive Director of the company effective from June 1.

Shares of Trent closed at Rs 1,238, down 0.72 per cent on the BSE.