Aug 6 (Reuters) – Indian retailer Trent posted a 22% rise in first-quarter profit on Thursday, as expansion of its Westside and Zudio apparel brands beyond metropolitan cities helped outweigh pressure from rising raw material costs.
The Tata Group firm’s profit rose to 5.19 billion rupees ($54.51 million) for the quarter ended June 30, from 4.25 billion rupees a year earlier.
India’s large retailers are increasingly expanding into smaller cities to tap rising demand for branded apparel and lifestyle products.
Trent said its revenue climbed to 57.55 billion rupees from 48.83 billion rupees.
($1 = 95.2175 Indian rupees)
(Reporting by Surbhi Misra and Praveen Paramasivam; Editing by Eileen Soreng and Sonia Cheema)
