Trent Ltd.'s net profit doubled for the third quarter of fiscal 2024.
Revenue increased by 50% during the October-December quarter, according to its exchange filing. Margin for Trent has significantly expanded to 18.13% from 14.03%.
Trent Q3 Results Highlights (Consolidated, YoY)
Revenue up 50.5% at Rs 3,466.6 crore vs Rs 2,303.4 crore.
Ebitda up 94.5% at Rs 628.5 crore vs Rs 323.2 crore.
Margin at 18.13% vs 14.03%.
Net profit doubles to Rs 370.6 crore vs Rs 154.8 crore.
The gross margin profile of Westside and Zudio continue to remain consistent with earlier trends.
In the quarter ended December, fashion concepts registered growth of over 10% vis-à-vis corresponding quarter of the previous fiscal.
Emerging categories including beauty and personal care, innerwear and footwear continued to gain traction with customers. Emerging categories contributed to over 19% of standalone revenue.
Online revenue continued to grow profitably through Westside.com and other Tata group platforms, and currently contribute over 5% to Westside revenue.
Star business, consisting of 67 stores, continued to witness improved customer traction with growing sales densities. Star Bazar like-for-like growth is at 24%.
Zudio stores have increased to 460 versus 313, while Westside store count rose to 227 from 211 during the quarter, as compared with the same period last year.
Shares of Trent surged 10% after the results were declared, as against a 0.1% fall in the benchmark Nifty 50.
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