Tata Group’s Trent posted its earnings for the quarter that ended in March just before market close on Monday.
What Happened: The fashion and lifestyle retail chain owner, witnessed a multifold increase in its consolidated net profit, reaching ₹712 crore. This surge compares to a net profit of ₹45 crore reported in the corresponding period last year.
Revenue from operations also experienced an uptick, soaring by 52% to ₹3,298 crore compared to ₹2,182 crore in the same quarter of the previous fiscal year. The company’s EBITDA went up to ₹477 crore from ₹211 crore, with an EBITDA margin of 15%. Trent Board of Directors has proposed a dividend ₹3.20 per equity share.
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As of March 31, 2024, Trent’s store portfolio comprised 232 Westside outlets, 545 Zudio outlets, and 34 stores across other lifestyle concepts. During the quarter, the company expanded its footprint by inaugurating 12 new Westside stores and 86 new Zudio stores across 65 cities, including 25 new cities.
Trent Limited highlighted the growth of Westside.com and its presence on the Tata Neu platform, both of which continue to expand profitably. Together, these online channels contribute to over 6% of Westside’s revenues. The Star business, consisting of 66 stores registered operating revenue growth of 30% in the March quarter.
Price Action: Trent’s share price was up 0.21% to close at ₹4,314.10 to close on Monday.
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