One of the key player in the retail and fashion industry, Trent Limited on Thursday, November 7 announced its consolidated and standalone financial results for the quarter ending September 30, 2024, through an exchange filing.
Although the company posted an encouraging results, the shares ended the day on a negative note.
Stock Reaction
At 3:30 pm IST, the stock ended at Rs 6,530, down by 6.12 per cent from the previous day. . This decline followed a day of fluctuations, with the stock opening at Rs 6,999 and touching a low of Rs 6,306.85 during intraday trading.
The company’s market capitalisation stood at Rs 2.31 lakh crore
Financial Highlights
Consolidated Results
On the consolidated basis, the company reported a surge in ts total income reaching Rs 4,204.65 crore in Q2FY25, an increase of nearly 37 per cent compared to same quarter last year. With this growth in the revenue, the expenses also posted a surge to Rs Rs 3,743.61 crore, in comparison to Rs 2,773.52 crore the previous quarter.
Mahindra & Mahindra Q2 FY25: Record Automobile Sales In September Quarter Propells PAT To ₹3,171 Crore
Despite this, the company managed to keep its profit it a positive end. The profit for the period surged to Rs 335.06 crore, up from Rs 228.06 crore a year ago, marking a climp of 47 per cent.
Standalone Results
Trent Limited's financial result on the standalone basis also posted a similiar trajectory as of consolidated results. The total income of the company in Q2FY25 rose to Rs 4,174.22 crore from Rs 3,041.80 crore in the same period last year.
Similar to the consolidated financial performance, the company's expenses for the quarter also increased to Rs 3,618.78 crore, compared to Rs 2,667.04 crore last year.
Furthermore, in terms of profitabilty, the standalone net profit of the company stood at Rs Rs 423.44 crore, up from Rs 289.67 crore in the same quarter last year. This marks a 47 per cent increase from the previous quarter.
Swiggy IPO Day 2: ₹11,327 Crore Public Offer Of Food Delivery Company Receives Mute Response; Issue Subscribed Only 31%, GMP Plummets
Speaking on the performance, Noel N Tata, Chairman, Trent Limited said, "Consumer sentiment has remained relatively muted. This coupled with seasonality has meant that retail businesses have faced headwinds. In the forgoing context the team has delivered strong results across brands, concepts, categories and channels in Q2."
"We have applied Trent’s playbook to the Star business and are witnessing strong customer traction. The success of own branded products augurs well for the Star business. We are confident that this business is well poised to shift gears and deliver substantial value to customers and shareholders,” he added.