Trent Limited sees profits before tax jump 113% in FY24 Q3 | Maqvi News

Tata Group’s fashion and lifestyle retail business Trent Limited reported a 52% year on year increase in standalone revenue in the third quarter of the 2024 financial year to total Rs 3,521 crore. The business’ profits before tax increased by 113% year on year during the quarter to reach Rs 447 crore. 

Trent Limited’s standalone revenue (including goods and services tax) was at Rs 2,319 crore in the third quarter of the 2023 financial year and its profit before tax was at Rs 210 crore, the business announced in a press release. Trent Limited reported profitable online growth and its operating EBIT (earnings before interest and tax) margin was 13% compared to 8.5% a year prior. 
 
“Our lifestyle offerings across concepts, categories and channels witnessed strong momentum in Q3 FY24,” said Trent Limited’s chairman Noel N Tata in a press release. “The growing scale of our operations distinctly enables us to realise greater operating synergies. We continue to see growing relevance for our offerings, resilience in our business model choices and attractiveness of our differentiated platform. We will continue to expand and deepen our store presence with the aim of being ever more proximate and convenient to customers reinforcing our brand promise. We believe that our strategic differentiators will continue to provide us encouraging tailwinds.”

Trent Limited added a total of 56 new stores for its brands in the December quarter. The business now has a portfolio of 715 fashion stores and its emerging categories during the quarter included beauty and personal care, inner wear, and footwear, which contributed to over 19% of its standalone revenue. 
 
“We are confident that this business is also well poised to shift gears and deliver substantial value to customers and shareholders going forward,” said Tata. “The growing acceptance of our brands demonstrates the attractiveness of our platform and the tremendous potential to address opportunities that lie ahead.”