Trent shares rise 5% on higher quarterly profit

Shares of Tata Group retail firm Trent Ltd climbed nearly 5 per cent on Wednesday after the company reported a 45 per cent rise in consolidated net profit for the June quarter.

The stock jumped 4.56 per cent to settle at Rs 1,790.95 apiece on the BSE. During the day, it rallied 5.43 per cent to its 52-week high of Rs 1,805.95.

On the NSE, it rose 4.74 per cent to end at Rs 1,795.

Trent has posted a 45 per cent rise in consolidated net profit at Rs 166.67 crore for the first quarter of the ongoing fiscal.

The company had posted a consolidated net profit of Rs 114.93 crore in the same period of the last fiscal, it said in a regulatory filing.

Its consolidated revenue from operations in the quarter under review was Rs 2,628.37 crore against Rs 1,803.15 crore in the year-ago period.