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Trent shares surge 20% on upbeat Q3 show; net profit jumps 39%, revenue up 51%

Over the past six months, shares of Trent have more than doubled investors’ wealth, jumping 105 percent. In comparison, the benchmark index Nifty 50 has risen around 12 percent during the same time period.

February 07, 2024 / 16:42 IST
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Over the past six months, shares of Trent have more than doubled investors’ wealth, jumping 105 percent.
Over the past six months, shares of Trent have more than doubled investors’ wealth, jumping 105 percent.

Shares of Trent surged nearly 20 percent in trade on February 7, after the retail player reported consolidated net profit of Rs 370.6 crore for the December quarter of FY24, rising 39.4 percent from Rs 154.81 crore in the same quarter of the previous financial year.

Trent shares closed at Rs 3,626.30 on the NSE, 19.48 percent higher compared to the previous session’s closing price.

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Earlier in the day, the Tata Group retailer said its revenue came in at Rs 3,466.6 crore, rising 50.5 percent from Rs 2,303.4 crore in the year-ago quarter. Earnings before interest, tax, depreciation and amortization (EBIDTA) was at Rs 629 crore, growing by 94.6 percent, the company said in a regulatory filing. The margin was at 18 percent compared to 14 percent in the year-ago period.

“Across formats, we continued to register consistent growth, serving as a reaffirmation of our strategic choices. Our operating discipline coupled with focus on the speed of execution supported our expansion agenda. Change in the revenue profile across formats remains aligned with our strategic objectives and plans. The gross margin profile of Westside and Zudio continue to remain consistent with earlier trends,” the company said in the filing.