Trent Ltd Q1 Results: 46% increase in revenue and net profit at Rs 167 crore

Trent Ltd., a retailer owned by the Tata Group, announced a 45.1% YoY increase in net profit for the first quarter ended June 30, 2023, at Rs. 166.7 crore.

Trent reported a net profit of Rs 114.9 crore for the same quarter a year ago, the company said in a regulatory filing.

The total revenue for the quarter was Rs 2,628.37 crore, up 45.8% from Rs 1,803.15 crore during the same period of the previous year.

Operating-level EBITDA increased by 26.2% to Rs 367.4 crore in the first quarter of current fiscal year compared to Rs 291.13 crore in the same time previous year.

In the reporting quarter, the EBITDA margin was 14.0%, down from 16.1% in the same period of the previous fiscal year.

The change in the revenue profile across formats continues to remain aligned with our expansion strategy. Operating EBIT margin for Q1 of FY24 was 8.8% (10.2% for Q1 of FY23). The total expenses were higher at Rs 2,494.69 crore compared to Rs 1,734.28 crore a year ago, the company said.

Trent's portfolio has 221 Westside, 388 Zudio, and 23 outlets representing various lifestyle concepts as of June 30, 2023. The company expanded into 35 locations throughout the quarter, opening 7 Westside and 40 Zudio outlets.

Source: Media Reports