Tata-owned retailer Trent reported a 25% rise in net profit to ₹468 crore for the September quarter. Revenue jumped 22% to ₹5,873 crore as the company opened 29 new stores. Despite inflation and stiff competition, Noel Tata said, "It was encouraging to witness a more robust consumer sentiment."
Tata's Trent retailer reported significant financial success, posting a 25% rise in net profit, which hit ₹468 crore for the quarter ending in September. The company's revenue jumped by 22%, reaching ₹5,873 crore. While geopolitical instabilities and inflation posed challenges, Trent executed strategic sourcing initiatives and expanded its presence by opening 29 new locations, consolidating its portfolio and reflecting a positive consumer outlook in the retail sector.
Mumbai: Tata-owned retailer Trent reported a 25% rise in consolidated net profit for the September quarter, outpacing revenue growth amid persistent inflation and intense competition in the fashion market.
Net profit rose to ₹468 crore in the July-September quarter, while revenue from operations increased 22% to ₹5,873 crore, the owner of fashion chains Westside and Zudio said on Thursday.
Trent said inflation remained elevated across cost categories, with geopolitical uncertainty, interest-rate trends and supply-chain disruptions contributing to cost pressures. The company said sourcing initiatives and supplier engagement were helping it manage these headwinds while maintaining relative stability in its value proposition.
"It was encouraging to witness a more robust consumer sentiment despite the relatively inflationary backdrop. We are increasingly expanding our presence across diverse markets, including in many tier-2 and tier-3 locations. The compelling reception we are witnessing gives us the conviction to double down into more hinterlands," said Noel Tata, who would retire as chairman and director on November 11, in line with Tata Group governance guidelines.
Bahram Vakil will take over as chairman. Tata will become chairman emeritus from November 12. Like-for-like growth across its fashion portfolio was in the mid-single digits,
Trent said in its investor presentation, suggesting that overall revenue growth also reflected its expanding store base.
The retailer continued to expand its store network, opening 19 Zudio outlets and 10 Westside stores during the quarter, while consolidating two Zudio stores. It had 999 Zudio stores, including seven in the United Arab Emirates, and 311 Westside stores at the end of September.