Trent Q2 FY24 results: profit rise by 152.34% YOY

livemint.com:

Trent, the retail company, announced its Q2 FY24 results on 07 Nov, 2023. The company witnessed a significant increase in both revenue and profit compared to the previous year. The topline increased by 52.73% year-over-year (YoY), while the profit surged by 152.34% YoY.

In comparison to the previous quarter, Trent's revenue grew by 13.47% and the profit increased by 35.31%. This indicates a strong quarter for the company, showing consistent growth in its financial performance. However, the selling, general, and administrative expenses rose sharply by 141.43% quarter-over-quarter (QoQ) and increased by 47.13% YoY.

This increase in expenses could be attributed to various factors such as expansion plans, marketing campaigns, or operational costs. On the positive side, the operating income showed a healthy growth of 34.68% QoQ and 111.06% YoY. This indicates that the company's core operations are performing well and contributing to its overall profitability.

Trent reported an earnings per share (EPS) of ₹6.6 for Q2 FY24, which increased by 151.91% YoY. This shows that the company's profitability per share has significantly improved over the past year. In terms of stock performance, Trent has delivered impressive returns.

The company has generated a return of 11.61% in the last week, 70.26% in the last 6 months, and 81.51% year-to-date (YTD). This indicates that Trent's stock has been performing well in the market. Currently, Trent has a market capitalization of ₹87195.74 Cr and a 52-week high/low of ₹2503.85 and ₹1155 respectively.