Shares of Trent that were under pressure on Wednesday surged up after sharply after the company posted its results for the quarter ended December.
What Happened: The Tata Group company’s net profits for the December quarter came in at ₹374.6 crore, a multifold increase from the ₹154.8 crore profit booked in the same quarter last year.
Revenue for the October-December period was at ₹3,466.6 crore, up around 50% from the ₹2,303.4 crore posted in the same period the previous year. Both the revenue and profit beat street estimates.
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“Across formats, we continued to register consistent growth, serving as a reaffirmation of our strategic choices. Our operating discipline coupled with a focus on the speed of execution supported our expansion agenda,” the company said in a statement.
During the quarter, the retailer added 5 Westside and 50 Zudio stores across 36 cities including 13 new cities. As of December 31, 2023, the company’s portfolio included 227 Westside, 460 Zudio and 28
stores across other lifestyle concepts.
Price Action: Trent’s share price bumped up 20% to hit an all-time high of ₹3,625.50 on Wednesday afternoon.
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