Zara India FY26 profit slumps 32% to Rs 204 cr in worst run since pandemic
The Inditex-Trent JV operating 22 Zara stores posted Rs 2,782 cr revenue, down from Rs 2,840 cr, as fast-fashion demand cools. Sister brand Massimo Dutti, with just 3 stores, defied the trend with 28% revenue growth to Rs 128 cr and 14% profit gain.
What happened
Zara India's FY26 profit fell 32% to Rs 204 cr with revenue slipping to Rs 2,782 cr, its weakest showing since COVID. Operator ITRIPL (Inditex-Trent JV) runs 22
Key facts
- profit Rs 204.14 cr (-32%)
- revenue Rs 2,782.06 cr
- total income Rs 2,767.75 cr vs Rs 2,839.50 cr
- 22 Zara stores
- Trent stake 20%
- MDIPL revenue Rs 128.45 cr (+27.97%)
- MDIPL profit Rs 11.66 cr (+13.86%)
- 3 Massimo Dutti stores
Why this matters
Inditex's portfolio bifurcation in India—Zara contracting while Massimo Dutti expands rapidly—points to white space in premium apparel and potential for accelerated rollout of higher-end formats over mass fast-fashion.