Trent Ltd Surges Ahead with Strong Q2 Results

Tata Group's trendsetting retail entity, Trent Ltd, posted a remarkable 46.9% rise in consolidated net profit for Q2 2024, reaching Rs 335.06 crore. They opened numerous new stores across their brands despite challenging market conditions, achieving a 39.37% increase in revenue.

Trent Ltd, a retail arm of the Tata Group, announced a significant 46.9% increase in its consolidated net profit for the second quarter of 2024, totaling Rs 335.06 crore. Compared to the previous year's Rs 228.06 crore, the company's profitability has seen a substantial leap, as revealed in their regulatory filing.

The company's revenue from operations also experienced a robust 39.37% growth, amounting to Rs 4,156.67 crore, up from Rs 2,982.42 crore a year prior. However, the total expenses rose by 48.49% to Rs 3,743.61 crore during this period. Trent continues to expand, operating 226 Westside and 577 Zudio stores, along with 28 other lifestyle outlets as of September 30.

Trent's expansion strategy included opening 7 new Westside and 34 Zudio stores, including an international location in Dubai, despite muted consumer sentiment and seasonal challenges. Chairman Noel N Tata credited the strong results to the team's efforts across various brands and channels. However, the company's shares saw a drop of 6.54% on Thursday, closing at Rs 6,498.45 on BSE.

(With inputs from agencies.)