Trent Posts 26 Percent Profit Jump and Bonus Issue
The Tata Group retailer reported a 4 billion rupee quarterly profit following tax cuts and store expansions. The board also approved a 25 billion rupee fund raise.
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TRENT LTD reported a 26% surge in its fourth-quarter profit, driven by a recovery in consumer demand across India. The Tata Group firm announced a consolidated net profit of 4 billion rupees for the quarter ending March 31, up from 3.18 billion rupees during the same period last year. In tandem with the financial results, the board approved a maiden bonus share issue and a significant fund-raising plan of up to 25 billion rupees ($266 million).
