Trent Q2 profit grows 47% to Rs 335 Cr; sales jumps 39.3%
Consumer sentiment has remained relatively muted. This coupled with seasonality has meant that retail businesses have faced headwinds, said Noel Tata.
Tata Group retail firm Trent on Thursday reported a 46.9% growth in its consolidated net profit to Rs 335.06 crore for the second quarter ended September 2024.
The company had posted a consolidated net profit of Rs 228.06 crore a year ago, according to a regulatory filing from Trent, which operates retail stores under brands like Westside, Zudio, and Star.
Its consolidated revenue from operations increased 39.37% to Rs 4,156.67 crore during the quarter under review. It was Rs 2,982.42 crore in the year-ago period, it added.
Trent's total expenses rose 48.49% to Rs 3,743.61 crore in the September quarter.
As of September 30, Trent was operating 226 Westside, 577 Zudio and 28 stores across other lifestyle concepts, the company said in an earning statement.
"During the quarter, we opened 7 Westside and 34 Zudio stores (including 1 in Dubai) across 27 cities. We also consolidated 9 Westside and 16 Zudio stores," it added.
Its Chairman Noel N Tata said: "Consumer sentiment has remained relatively muted. This coupled with seasonality has meant that retail businesses have faced headwinds. In the foregoing context, the team has delivered strong results across brands, concepts, categories and channels in Q2".
Shares of Trent Ltd on Thursday settled at Rs 6,498.45 on BSE, down 6.54% from the previous close.
Edited by Megha Reddy