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    Tata’s Trent doubles its net profit in Q3

    Synopsis

    Trent's profit increased from Rs 160.9 crore to Rs 343.6 crore over the year and the revenue to Rs 3312.4 crore (Rs 2171.5 crore). Trent’s earnings before interest, tax, depreciation, and amortization (EBITDA) during the quarter jumped 86% year-on-year to Rs 623.15 crore.

    Tata’s Trent doubles its net profit in Q3Agencies
    Tata Group’s retail company Trent Ltd posted a 113% spike in net profit for the third quarter ended December 2023 led by a 53% rise in revenue from operations.

    The company's net profit increased from Rs 160.9 crore to Rs 343.6 crore over the year and the revenue to Rs 3312.4 crore (Rs 2171.5 crore). Trent’s earnings before interest, tax, depreciation, and amortization (EBITDA) during the quarter jumped 86% year-on-year to Rs 623.15 crore.

    Noel N Tata, the chairman of Trent said, the lifestyle offerings across concepts, categories and channels witnessed strong momentum during the third quarter. "The growing scale of our operations distinctly enables us to realize greater operating synergies,” he said.

    The company’s fashion concepts registered over 10% like-for-like (LFL) growth year-on-year. Trent's hypermarket, Star business, which has 67 stores, contributed 26% year-on-year growth in operating revenue in the quarter.

    “We have applied our playbook to the Star business and are witnessing strong customer traction, instilling a growing conviction to build out this growth engine in the food and grocery space,” Tata added.

    The online revenue through Westside and other Tata group’s platforms contributed over 5% of Westside’s revenue.

    The company reported a contribution of 19% to its revenue from “emerging categories”, which include beauty and personal care, innerwear, and footwear.

    Trent added 56 stores in the quarter, which comprises 5 Westside and 50 Zudio stores across 36 cities including 13 new cities. This makes it a total of 715 stores, including 227 Westside stores, 460 Zudio, and 28 other lifestyle stores.

    Shares of Trent closed at Rs 3609.25 a piece, up by 18.94% on BSE.


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