Trent Shares Hit Life High After Q1 Net Profit More Than Doubles
The company's net profit surged 134.1% year-on-year to Rs 391 crore in the quarter ended June 30, 2024.
Shares of Trent Ltd. jumped nearly 10% to hit life high on Friday after the company's net profit more than doubled and revenue rose in the first quarter of fiscal 2025.
The company's net profit surged 134.1% year-on-year to Rs 391 crore in the quarter ended June 30, 2024, compared to Rs 167 crore for the same period last year, according to an exchange filing.
The retailer's revenue rose by 56.2% to Rs 4,104 crore for the April-June quarter, as against Rs 2,628 crore in the same period last year.
Operating income, or earnings before interest, taxes, depreciation, and amortisation, rose 66.8% year-on-year to Rs 613 crore. The Ebitda margin expanded to 14.9% from 14% over the same period last year.
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Shares of Trent rose as much as 9.57% before paring gains to trade 9.05% higher at Rs 6,182.10 apiece as of 1:08 p.m. This compares to a 0.96% rise in the NSE Nifty 50.
The stock has risen 244.26% in the last 12 months and 100.5% year-to-date. Total traded volume so far in the day stood at 4.5 times its 30-day average. The relative strength index was 67.37.
Out of 22 analysts tracking the company, 13 maintain a 'buy', five suggest a 'hold' and two recommend a 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 22.5%.
