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Trent shares soar over 19% on strong Q3 earnings

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The company’s market valuation climbed Rs 20,431.64 crore to Rs 1,28,304.31 crore

New Delhi: Shares of retail firm Trent Ltd on Wednesday zoomed over 19% after the company reported a two-fold rise in consolidated net profit to Rs 370.64 crore for the December quarter, helped by strong momentum in sales and improved margins.

The stock jumped 18.94% to settle at Rs 3,609.25 apiece on the BSE. During the day, it surged 19.78% to Rs 3,635 — its 52-week high.

On the NSE, it zoomed 19.48% to Rs 3,626.30 per share.

The company’s market valuation climbed Rs 20,431.64 crore to Rs 1,28,304.31 crore.

In volume terms, 2.88 lakh shares of the firm were traded on the BSE and over 58.46 lakh shares on the NSE during the day.

The company had posted a consolidated net profit of Rs 154.81 crore a year ago, Trent Ltd said in a regulatory filing.

Trent Ltd operates retail stores under the brand name Westside, Zudio and Star.

Its consolidated revenue from operations surged 50.5% to Rs 3,466.62 crore during the quarter under review. It was Rs 2,303.38 crore in the year-ago period, it added.

“Across formats, we continued to register consistent growth, serving as a reaffirmation of our strategic choices. Our operating discipline, coupled with a focus on the speed of execution, supported our expansion agenda. Change in the revenue profile across formats remains aligned with our strategic objectives and plans,” said an earning statement from Trent.

The total consolidated income rose 50% to Rs 3,546.95 crore in the December 2023 quarter.

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