Trent (TRENT) Q4 99/00 earnings summary

Executive summary

• FY ended 31 Mar 2000 covered 12 months versus 9 months in the prior period; reported results are not comparable. Income from operations was ₹49.54 crore and profit after tax ₹12.48 crore.

• Retail operations expanded to four Westside stores; store sales rose steadily and the business was positioned for expansion after supply-chain improvements.

Financial highlights

• Income from operations ₹49.54 crore; total income including other income ₹58.68 crore; profit before tax ₹14.98 crore; profit after tax ₹12.48 crore.

• Sales were ₹33.60 crore; operating income also included ₹15.94 crore from current investments, while other income was ₹9.14 crore.

• Manufacturing and other expenses were ₹41.28 crore, depreciation ₹2.11 crore and interest ₹0.31 crore.

• Profit after tax includes ₹0.27 lakh excess tax provision for prior years; profit available for appropriation was ₹16.72 crore, including ₹4.24 crore brought forward.

Outlook and guidance

• Expansion was planned for Pune and Delhi; some agreements had been signed and others were under negotiation.

• After strengthening the supply chain, operations were described as positioned for aggressive expansion; product ranges were undergoing ongoing refinement.

• Organized retail was viewed as an emerging Indian industry, with mall growth, new entrants and changing lifestyles expected to accelerate customer adoption.