NEW DELHI — Trent Ltd, the Tata Group's retail arm, on Thursday, October 29, reported a 25 per cent year-on-year increase in consolidated net profit to Rs 468 crore for the September quarter, PTI reported, as revenue growth and operating leverage supported earnings amid an inflationary environment.

Source: PTI via The Hindu BusinessLine

Consolidated revenue from operations rose 22 per cent to Rs 5,873 crore in the quarter ended September 30, from about Rs 4,814 crore a year earlier, while operating EBITDA increased 37 per cent to Rs 785 crore, the company said. On a standalone basis, net profit rose 9 per cent to Rs 490 crore and revenue climbed 23 per cent to Rs 5,788 crore, The Hindu BusinessLine reported, noting that the slower standalone profit growth partly reflected a Rs 96-crore pre-tax gain from asset sales in the year-ago quarter.

Source: The Hindu BusinessLine

Rs 468 croreConsolidated net profit in Q2, up 25% year-on-year
Rs 5,873 croreConsolidated revenue from operations, up 22%
37%Rise in operating EBITDA, to Rs 785 crore

Zudio and Westside keep expanding

Zudio's store network expanded 23.9 per cent to 999 outlets from 806 a year earlier, while Westside grew to 311 stores from 261, BusinessLine reported. Trent opened 19 Zudio and 10 Westside stores during the quarter and marked the opening of its 1,000th Zudio store, taking its total portfolio to 1,342 stores across Westside, Zudio and other lifestyle formats, according to the company's results statement reported by Indian Television.

The Star grocery business grew revenues 21.8 per cent to Rs 1,006 crore, with own brands contributing 74 per cent of sales, across 87 stores in 13 cities, BusinessLine reported. Emerging categories — beauty and personal care, innerwear and footwear — contributed over 21 per cent of revenues, and Westside's online revenues grew 20 per cent in the first half, contributing over 6 per cent of Westside revenues.

Noel Tata to become chairman emeritus

The results coincided with a leadership transition. Noel N Tata will step down as Chairman and Director with effect from the close of business on November 11, in accordance with Tata Group governance guidelines, and will become chairman emeritus from November 12, the company said in a regulatory filing reported by BusinessLine. Bahram Vakil will succeed him as chairman from November 12, and Rajiv Dube has been appointed an additional non-executive, non-independent director from October 30, subject to shareholder approval. Tata, associated with Trent since 1997, said: "Our brands experienced solid traction during the quarter. It was encouraging to witness a more robust consumer sentiment despite the relatively inflationary backdrop."