Trent soared 10.58% to Rs 6,240 after retailer reported standalone net profit of Rs 342.15 crore in Q1 FY25, steeply higher than Rs 148.27 crore posted in Q1 FY25.
Revenue from operations jumped 57.38% year on year (YoY) to Rs 3,991.74 crore in the quarter ended 30 June 2024.
Profit before tax was at Rs 449.57 crore June 2024 quarter, registering a growth of 133.18% as compared with Rs 192.80 crore in same quarter last year.
As of 30 June 2024, the companys portfolio included 228 Westside, 559 Zudio and 36 stores across other lifestyle concepts. During the quarter, the firm added 6 Westside and 16 Zudio stores across 12 cities.
In Q1 FY25, Trents fashion registered double digit LFL growth. Both Westside and Zudio witnessed consistent and encouraging traction notwithstanding headwinds including the heatwave conditions in certain parts of the country and the general elections. The companys Westside loyalty program, WestStyleClub, registered strong outcomes. Across all its brands, company remains focused on delivering consistent value to customers in terms of both the fashion and price propositions.
The Star business, consisting of 72 stores, including the addition of 6 stores during the quarter, continued to witness improved customer traction with growing sales densities. This business registered operating revenue growth of 29% in Q1 FY25 with LFL growth of over 20%. The business continued to witness all-round improved operating performance, driven by our own brands, staples, fresh & our general merchandise offerings which now contribute to over 70% of revenues.
The emerging categories including beauty & personal care, innerwear and footwear continued to gain traction with customers. These emerging categories now contribute to over 20% of our standalone revenues.
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Westside.com together with our proposition on the Tata Neu platform continues to grow profitably. This combined online reach grew by over 30% and contributes to over 5% of Westside revenues.
On consolidated basis, the companys net profit zoomed 126.29% to Rs 392.57 crore in Q1 FY25 as against Rs 173.48 crore posted in Q1 FY24. Revenue from operations was at Rs 4,104.44 crore in Q1 FY25, up 56.15% year on year.
Noel N Tata, chairman of Trent said, The overall market sentiment remains subdued with increased competitive intensity. On our part, we continue to witness encouraging traction for our lifestyle offerings across brands, concepts, categories and channels. Focus on delivering consistent and improved value propositions keep us relevant for our customers. The market opportunity associated with building brands and a pure play direct-to-customer business like ours is immense.
We will, therefore, continue with our expansion plans and deepen our store presence with the aim of being ever closer and convenient to customers and reinforcing our brand promise. We have applied Trents playbook to the Star business and are witnessing strong customer traction. Several new stores were added in Q1 and we expect a steady expansion of our portfolio going forward. The success of own branded products also augurs well for the Star business.
Trent is part of the Tata Group and operates a portfolio of retail concepts. The primary customer propositions of Trent include Westside, one of India's leading chains of fashion retail stores, Zudio, a one stop destination for great fashion at great value and Trent Hypermarket, which operates in the competitive food, grocery and daily needs segment under the Star banner. Trent's new fashion concepts include Samoh, a differentiated & elevated occasion wear offering and Misbu that offers a curated & compelling range of beauty, personal care and fashion accessories.
The scrip hit all time high at Rs 6,375 in todays intraday session.
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