Zara Announces Over 60% Growth In India Revenue, Despite No New Stores
NDTV
Luxury fashion brand Zara posted a net profit of Rs 148.76 crore and revenue of Rs 1,815 crore for the financial year ended on March 31, 2022.
Spain's Inditex, which owns luxury fashion brand Zara, posted a net profit of Rs 148.76 crore and revenue of Rs 1,815 crore for the financial year ended on March 31, 2022, according to the latest annual report of Trent Ltd.
In FY21, Inditex Trent Retail India Private Ltd (ITRIPL), a JV engaged in the operation of Zara stores in India, had reported a net loss of Rs 41 crore and its revenue fell 28.3 per cent to Rs 1,126 crore in the pandemic-impacted year.
The Inditex group of Spain owns 51 per cent while Trent has 49 per cent in ITRIPL.
"During the year under review, the Zara entity recorded revenues of Rs 1,815 crore," said the annual report of Tata group retail arm Trent.
