Recently, Amazon has announced that it has signed an agreement to obtain the publishing business of Westland Ltd. Westland Limited is subsidiary of Trent Limited and one of the leading publishing houses in India. The acquisition will facilitate Westland's authors to nurture their physical and digital book businesses in India as well as expand their contact to customers globally, and continues Amazon's commitment to innovate on behalf of customers in India.
Today, Trent share price went up by 7% intraday as Amazon began the process of acquiring the subsidiary of Trent.
Westland is one of the largest and fastest emerging publishing houses in India. The publishing catalog of Westland, its imprints Tranquebar and EastWest, and imprint extension Mikros include bestselling authors Amish Tripathi, Rashmi Bansal, Rujuta Diwekar, Ashwin Sanghi, Preeti Shenoy, Christopher C Doyle, Devdutt Pattanaik, Anand Neelakantan, BKS Iyengar, Anuja Chauhan , Ravi Subramanian and Savi Sharma, among others.
Gautam Padmanabhan, CEO of Westland said that the acquisition wi8ll be good for their authors and the readers across the globe. Amazon’s roots are in books and they are thrilled to be part of that team in the next phase of Amazon’s journey.
Amit Agarwal, Vice President and Country Manager at Amazon India said that in just three years they have built India's largest online store that clients can trust to find, discover and buy anything online. Their acquisition of Westland continues their commitment to India, enabling them to bring Westland's highly talented authors and their books to even more customers in India and around the world.
Westland has a record of over 50 years in retail, distribution and publishing. The comapny is an amalgamation of Westland Books Pvt. Ltd. & EastWest Books (Madras) Pvt Ltd. Under CEO Gautam Padmanabhan’s leadership, Westland is now one of the largest English language trade publishers in India.
Trent share price is also somewhere strengthened by its Q2 result.
Q2 sneak peak:
Tata group retail firm Trent Ltd had reported a 7.28 per cent increase in standalone net profit at Rs 21.06 crore for the quarter ended September 30. The company had declared a standalone net profit of Rs 19.63 crore in the July-September quarter last financial year.
Net sales during Q2FY17 stood at Rs 448.54 crore, up 16.54 per cent as against Rs 384.87 crore in the same quarter last financial year.
Trent's net profit for the first half of 2016-17 stood at Rs 44.36 crore as compared to Rs 34.14 crore in the same period a year ago, up 29.93 per cent. Total income from operations during the first half of the current financial year was up 15.67 per cent to Rs 849.49 crore as against Rs 734.37 crore a year ago.
Trent is the top 500 recommended stock by Dynamic Levels for the quarter. For the details on the stock, visit Trent share price history page of Dynamic Levels website.
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