Shares of Tata Group's Trent were soaring after its net profit and revenue beat analysts’ estimates in the first quarter of FY25.
What Happened: On Friday, Trent posted a consolidated net profit of ₹391.21 crore for the April-June period, marking a whopping 135% jump compared to ₹166.67 crore posted in the same quarter last year. Sequentially, profit decreased 45%.
Revenue from operations soared 56% year-on-year to ₹4,104.44 crore from ₹2,628.37. The Tata Group firm's total income came at ₹4,150.40 crore, a 35% increase from the corresponding quarter in 2023.
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Both the metrics beat analysts' estimates who had expected a revenue of ₹3,714 crore and net profit of ₹316 crore. The firm highlighted growth in its clothing chains, Westside and Zudio.
"Both Westside and Zudio witnessed consistent and encouraging traction notwithstanding headwinds including the heatwave conditions in certain parts of the country and the general elections," the company said in the press release.
The company opened 25 new stores in the quarter, it said in the press release. As of June 30, 2024, Trent's store portfolio comprised 228 Westside, 559 Zudio and 36 stores across other lifestyle concepts. During the quarter it opened 6 Westside and 16 Zudio stores across 12 cities.
Price Action: Shares of Trent were up 9.05% ₹6,155 on Friday.
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