Shares of Zudio and Westside operator Trent Ltd surged as much as 7.31% to hit a 52-week high of ₹4,669.95, a day after the apparel major released its March quarter numbers. The Tata Group company reported a multifold increase in consolidated net profit to ₹712 crore in the March quarter of FY24 as compared to ₹370.64 crore in the same period of FY23.
The scrip opened higher at ₹4,450.25, up 2.2% against the previous closing price of ₹4,351.45. At 11:57 am, the company's share price was trading 3.57% higher at ₹4,506. This was in line with the broader BSE Sensex, which was trading 271.44 points or 0.36% at 74,942.72.
Trent's market capitalisation stood at ₹1,60,465.26 crore with more than 1.63 lakh shares exchanging hands on the BSE, as against the two-week average of 0.88 lakh shares. The company hit a 52-week low of ₹1,368 on May 2, last year.
In the past one month, three months and one year, the counter has surged 14.18%, 47.75% and 229.83%, respectively. In the year-to-date period, the counter has surged 50.27%.
Trent's revenue from operations during the January to March quarter of FY24 stood at ₹3,297 crore, witnessing a growth of 51% year-on-year, as against ₹2,182.75 crore in the same period of FY23. The Zudio operator's total income stood at ₹3,374.57 crore, up 48.7% YoY, as against ₹2,268.06 crore in the corresponding period of the previous year. Notably, the emerging categories such as beauty and personal care, innerwear and footwear contribute to over 20% of the company’s revenue. The company added 12 Westside and 86 Zudio stores across 65 cities including 25 new cities during the quarter under review.
"In a competitive market, we continue to experience resonance and customer traction for our lifestyle offerings across brands, concepts, categories and channels. The growth of our offerings, the resilience of our business model choices and the strength of our platform are reflected in our business results. We will continue to expand and deepen store presence with the aim of being ever closer and convenient to customers reinforcing our brand promise,” says Noel N Tata, Chairman, Trent Limited.
“We have applied Trent’s playbook to the Star business and are witnessing strong customer traction. This reinforces our conviction to build out this growth engine in the food, grocery, and general merchandising space. The success of own branded products also 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 going forward. We remain excited about the huge consumer market opportunity that lies ahead. We are still in the initial laps of our journey to address this opportunity,” he adds.
