New Delhi: Trent Limited, a part of the Tata Group, on Tuesday has reported a surge of 188.9 per cent in consolidated net profit at Rs 228.06 crore in the second quarter (Q2) ended September 30, 2023 against the net profit of Rs 78.94 crore in the previous fiscal’s same quarter, it said in a regulatory filing.
The company’s total income jumped 51.4 per cent to Rs 3,062.47 crore in Q2 FY24 as against Rs 2,022.66 crore in the corresponding quarter of the previous fiscal.
Trent’s total expenses also grew at a high rate to Rs 2,773.52 crore in Q2 FY24 from Rs 1,899.49 crore in the same period of the last fiscal, according to the BSE filing.
Speaking on the performance, Noel N Tata, Chairman, Trent Limited said, “Our lifestyle offerings across concepts, categories and channels witnessed strong momentum in Q2FY24 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. We will expand and deepen our store presence with the aim of being ever more proximate and convenient to customers reinforcing our brand promise.”
He further said, “We have applied our playbook to the Star business and are witnessing strong customer traction, instilling a growing conviction to build out this growth engine in the food and grocery space. We are confident that this business is well poised to shift gears and deliver substantial value to customers and shareholders going forward. The growing acceptance of our brands demonstrates the attractiveness of our platform and the tremendous potential to address opportunities that lie ahead.”
