Tata Group retail firm Trent Ltd on Thursday reported a 46.9% growth in its consolidated net profit to ₹335.06 crore for the second quarter ended September 2024. The company had posted a consolidated net profit of ₹228.06 crore a year ago, according to a regulatory filing from Trent Ltd, which operates retail stores under brands like Westside, Zudio, and Star.
Its consolidated revenue from operations increased 39.37% to ₹4,156.67 crore during the quarter under review, up from ₹2,982.42 crore in the year-ago period. However, the company’s strong financial performance was overshadowed as Trent’s shares experienced a decline, resulting in a ₹4,797.8 crore drop in market cap.
Trent’s total expenses rose 48.49% to ₹3,743.61 crore in the September quarter, reflecting rising operational costs.
As of September 30, Trent was operating 226 Westside, 577 Zudio, and 28 stores across other lifestyle concepts. “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,” the company noted in its earnings statement.
Chairman Noel N Tata commented on the results, saying, “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.”
