₹32 crore Trent Ltd’s June-quarter results (Q1FY22) show that the recovery it was witnessing after the easing of the first lockdown last year has paused.
The company’s revenues had pretty much evaporated in last year’s Q1 owing to the lockdown restrictions. For three consecutive quarters since then, Trent’s revenue improved until Q1FY22.
The upshot: standalone revenues have declined as much as 58% vis-à-vis the March quarter. Of course, year-on-year growth numbers are exceptionally high given the favourable base.
The company’s fashion business (Westside and Zudio) operated for just 46% of the trading days, though it was up from 26% in Q1FY21. “Trent mirrored the sector weakness in the wake of covid restrictions and reported loss at