Trent Q3 net profit rises two-fold to Rs 370.6 crore

Feb 7, 2024

New Delhi: tata group retail firm Trent Ltd. on Wednesday recorded two-fold growth in consolidated Net Profit This increased to Rs 370.64 crore in the third quarter ended December 2023, helped by strong sales momentum and improved margins. The company had posted a consolidated Net profit stood at Rs 154.81 crore a year earlier, Trent Ltd said in a regulatory filing.
Trent Limited operates retail stores under the Westside, Zudio and Star brand names.
it is consolidated Income Revenue from operations grew 50.5 percent to Rs 3,466.62 crore during the quarter under review. It was Rs 2,303.38 crore in the year-ago period, it said.
Trent's Total Expenditure It increased by 41.64 percent to Rs 3,101.44 crore in the December quarter.
“Across formats, we continued to register consistent growth, serving as validation of our strategic choices. Our operational discipline with a focus on speed of execution supported our expansion agenda. Revenue across all formats The change in profile is aligned with our strategic objectives and plans,” Trent said in an earnings statement.
Total consolidated income increased 50 percent to Rs 3,546.95 crore in the December 2023 quarter.
Its Chairman Noel N Tata said, “Our lifestyle offering across concepts, categories and channels saw strong momentum Q3 FY24. The increasing scale of our operations clearly enables us to realize greater operational synergies.
The gross margin profile of Westside and Zudio remains in line with prior trends.
“Overall, operating EBIT margin for Q3 FY24 is 13 per cent (8.5 per cent for Q3 FY23). The business performance and growth momentum encourage us to continue with our expansion plans,” the company said.
In Q3 FY24, Trent's Fashion Concepts recorded an encouraging LFL growth of over 10 per cent compared to Q3 FY23.
Its emerging categories including beauty and personal care, innerwear and footwear continued to gain popularity and contributed over 19 per cent to its standalone revenue, which stood at Rs 3,521 crore during the quarter.
“Our online revenues through and other Tata Group platforms are growing profitably and currently contribute more than 5 per cent to Westside revenues,” it said.
During the quarter, Trent added 5 Westside and 50 Zoodio stores across 36 cities, including 13 new cities.
As of December 31, 2023, Trent's portfolio included 227 Westside, 460 Zoodio and 28 stores of other lifestyle concepts.
It added, “The Star business, comprising 67 stores, has continued to improve customer attraction with increasing sales density. Over the past few years, several initiatives taken to strengthen operational performance are yielding encouraging results “
On the outlook, Tata said Trent will continue to expand and deepen its store presence.
“We believe our strategic differentiators will continue to provide us with encouraging tailwinds. We have implemented our strategy in the Star business and are seeing strong customer attraction, making us determined to build on this growth engine in the food and grocery sector.” “Trust is being created.” Said.
Shares of Trent Ltd were trading at Rs 3,489.65 on the BSE on Wednesday, up 15 per cent from its previous close.

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