About 13.7 lakh shares of Trent Ltd, representing a 0.4 percent equity stake in the company were traded in a block deal on Thursday for Rs 881.7 crore. The shares were exchanged at Rs 6,445 each.
Trent stock was trading at Rs 6,484.95 per share on the NSE, down 6.76 percent at 3 pm.
The shares of the company fell over 9 percent intraday on missing the September earnings estimates for the first time in more than three years. The Tata group’s retail player Trent shared its earnings report for the second quarter of the current fiscal year today.
All the analysts polled by Moneycontrol predicted a sharp surge in net profit and revenue for Trent.
The retail major reported 47 percent jump in consolidated net profit at Rs 335 crore for the quarter ended September 30, 2024. The retail company reported net profit of Rs 228 crore in the year-ago period. The company's net profit fell 14 percent on sequential basis.
According to a Moneycontrol poll of five brokerages, Trent was expected to report a net profit of Rs 444 crore from Rs 290 crore from the corresponding quarter last year, jumping 53.2 percent on-year.
The company's consolidated revenue from operations rose 39 percent to Rs 4,157 crore in Q2FY25 as against Rs 2,982 crore in Q2FY24. Moneycontrol poll estimated revenue growth of 51 percent at Rs 4,365 crore.
Trent share price saw its steepest decline in five months since June 4, dropping 9.33 percent to an intraday low of Rs 6,306.85 per share on the NSE. The stock has been falling for the last four days and has fallen 10.02 percent in the period.
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