Trent Ltd., a division of the Tata Group, reported a 126 per cent rise in net profit for the first quarter that ended on 30th June. Net profit for the same period previous year was Rs. 173 crore.
The company’s revenue for the quarter increased by 56 per cent, reaching Rs. 4,104 crore compared to Rs. 2,628 crore in the same quarter last year.
Noel N Tata, Chairman of Trent Limited, commented on the results, stating, “The potential for building brands and establishing a direct-to-customer business like ours is significant. We aim to continue expanding and enhancing our store presence to be closer to customers and strengthen our brand promise.”
He also noted, “While the complete market sentiment remains cautious due to heightened competition, we are seeing positive traction for our lifestyle offerings across various brands, concepts, categories, and channels. We are committed to delivering consistent and enhanced value propositions to remain relevant to our customers.”
In the April-June quarter, Trent launched 25 new stores, bringing its total to 228 Westside locations, 559 Zudio outlets, and 36 stores around other lifestyle concepts.
