Trent Q2 results: Net profit up nearly 3-fold at Rs 228.06 crore

Tata group retail firm Trent Ltd on Tuesday reported a nearly three-fold rise in consolidated net profit to Rs 228.06 crore for the September quarter.

The company had posted a consolidated net profit of Rs 78.94 crore in the year-ago quarter, Trent Ltd said in a regulatory filing. Consolidated revenue from operations was at Rs 2,982.42 crore as against Rs 1,952.74 crore in the year-ago period, it added.

Total expenses were higher at Rs 2,773.52 crore in the second quarter of the current fiscal as compared to Rs 1,899.49 crore a year ago.

"Our lifestyle offerings across concepts, categories and channels witnessed strong momentum in Q2FY24 (September quarter) despite challenging market conditions. We continue to see growing relevance for our offerings, resilience in our business model choices and attractiveness of our differentiated platform," Trent Ltd Chairman Noel N Tata said.

He said the company will expand and deepen its store presence with "the aim of being ever more proximate and convenient to customers reinforcing our brand promise".

Tata said in the food and grocery space, the Star business is witnessing strong customer traction. "We are confident that this business is well poised to shift gears and deliver substantial value to customers and shareholders going forward," he added.

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.