Trent shares jump 10% to 52-week high as Q1 PAT Jumps

9 Aug 2024 , 01:49 PM

Tata Group company Trent Ltd said Friday first-quarter net profit more than doubled as revenue surged and it opened more stores, pushing its shares to a 52-week high.

Consolidated net profit attributable to equity holders surged to Rs 392.57 crore from Rs 173.48 crore a year earlier, the operator of Zudio and Westside fashion stores said in a stock-exchange filing.

Consolidated revenue from operations jumped 56% to Rs 4,104.44 crore from Rs 2,628.37 crore a year earlier.

Shares of Trent jumped 10% to a one-year high of Rs 6,207.05 apiece on the BSE after the earnings announcement.

The company said its store portfolio as of June 30 included 228 Westside, 559 Zudio and 36 stores across other lifestyle concepts. During the quarter, it opened six Westside and 16 Zudio stores across 12 cities. The company also operates 72 Star supermarkets.

“The overall market sentiment remains subdued with increased competitive intensity. On our part, we continue to witness encouraging traction for our lifestyle offerings across brands, concepts, categories and channels,” said Trent chairman Noel N Tata.