Trent’s Q2 Profit Jumps 47% to Rs 335 Crore as Sales Surge by 39.3%

Tata Group Retail arm Trent on Thursday recorded a 46.9 per cent growth in its consolidated net profit to Rs 335.06 crore for the second quarter ended September 2024. The company posted its net profit of Rs 228.06 crore a year ago, according to a regulatory filing by the company, which operates retail stores under the brands like Westside, Zudio and Star. 

"Consumer sentiment has remained relatively muted. This coupled with seasonality has meant that retail businesses have faced headwinds,” said Tata Group chairman Noel Tata. “In the foregoing context, the team has delivered strong results across brands, concepts, categories and channels in Q2,” he added. 

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Its consolidated revenue from operations increased 39.37 per cent to Rs 4,156.67 crore during the quarter ending in September compared to Rs 2,982.42 crore in the year-ago period, it added. 

Trent's total expenses rose 48.49 per cent to Rs 3,743.61 crore in the September quarter. As of September 30, Trent was operating 226 Westside, 577 Zudio and 28 stores across other lifestyle concepts, the company said in an earnings statement. 

"During the quarter, we opened 7 Westside and 34 Zudio stores (including 1 in Dubai) across 27 cities. We also consolidated 9 Westside and 16 Zudio stores," the company’s statement stated. 

"The market opportunity associated with building brands and a pure play direct-to-customer business like ours remains immense. We continue to pursue our expansion programme and deepen our store presence with the aim of being ever closer and convenient to customers. Also, we seek to explore additional avenues of growth. It is in this context that we recently launched our first international Zudio store in the UAE and the Zudio Beauty concept in India," he further added. 

On a year-to-date basis, shares of Tata's retail arm have delivered multibagger returns of nearly 118 per cent on the National Stock Exchange. On an annual basis as well, the performance of the stock has been quite robust, with the return figure standing at 167 per cent. 

With inputs from PTI.