Shares of Trent were trading below during the trading session on 7 November. However, after the company announced its quarterly earnings for Q2, the shares skyrocketed around 10% and hit a 52-week high of Rs 2,450 on NSE.
The company posted its consolidated net profit at Rs 289.6 crore for the quarter under review, which is a 59% year-on-year increase from Rs 186 crore reported in the year-ago quarter.
The total revenue of the company saw a significant increase of 59% YoY to Rs 2,891 crore during the quarter from Rs 1,541 crore reported in the same quarter during the previous fiscal year.
The company’s EBITDA (earnings before interest, tax, depreciation, and amortisation) was at Rs 461 crore, which is a 7% YoY increase. The EBITDA margins for the quarter stood at 15.9% from 14.7% reported during Q2FY23.
Noel N Tata, Chairman of Trent Limited, said, “Our lifestyle offerings across concepts, categories and channels witnessed strong momentum in Q2FY24 despite challenging market conditions. We continue to see growing relevance for our offerings, resilience in our business model choices and attractiveness of our differentiated platform.”
As of 30 September, the company portfolio included 411 Zudio, 223 Westside, and 27 stores across other lifestyle concepts. During the quarter, the company added 6 Westside and 27 studies across 19 cities in India, out of which 4 stores of Westside and Zudio were consolidated.
Trent is a part of Tata Group and operates a strong portfolio of retail concepts.
At 3:30 pm, the shares of Trent Limited closed 9.71% higher at Rs 2,449.95 on NSE.