Trent Q1 results: Profit jumps 44% at ₹148.27 crore
New Delhi: Retailer Trent Ltd., part of the Tata Group, reported a 44% jump in June quarter profit to ₹148.27 crore from the ₹102.6 crore reported in the year ago period. Standalone revenue from operations grew 53.4% from ₹1,652.86 crore reported in they ago period to ₹2,536.43 crore, the company said in a filing to the exchanges. “Trent witnessed encouraging revenue growth during Q1FY24 amidst relatively subdued market conditions.
The change in the revenue profile across formats continues to remain aligned with our expansion strategy. The performance of the business and the growth momentum encourages us to continue with our expansion agenda over the medium and long term," the company said in statement. Trent operates a range of fashion retail stores—as of 30th June 2023, the company’s portfolio included 221 Westside, 388 Zudio and 23 stores across other lifestyle concepts.
During the quarter, the company added 7 Westside and 40 Zudio stores across 35 cities. “In Q1FY24, our fashion concepts registered encouraging like-for-like growth of over 12% vis-à-vis Q1FY23. Across all our brands, we focus on delivering consistent value to our customers through a differentiated product portfolio.
In addition, our stores continue to provide an elevated brand experience even as we pursue our expansion program," the company said. Trent’s lifestyle offerings across concepts, categories and channels continue to witness strong momentum in Q1FY24, said Noel N Tata, Chairman, Trent Limited. “We will further expand our reach with vigour with the aim of being ever more proximate and convenient to customers reinforcing our brand promise.
Read more on livemint.com
