Retail major Trent’s shares jumped to a 52-week high of Rs 1,806.40 on August 9 after the Tata group company reported a 46 percent YoY (year-on-year) increase in the quarterly net profit to Rs 166.7 crore.
At market close, Trent stock’s price stood at Rs 1,795, up 4.74 percent or Rs 81.30. The stock, which grew 33.74 percent year-to-date, had been witnessing consolidation since June 14 before today’s rise.
In reaction to the results, nearly 25 lakh shares changed hands at both exchanges against a monthly average of 4 lakh shares.
In its results for Q1FY24, the company reported a 45.8 percent YoY rise in its revenue from operations to Rs 2,628.4 crore for Q1FY24.
EBITDA (earnings-before-interest-taxes-depreciation and amortisation) for Q1FY24 were up 26 percent at Rs 367.4 crore. Meanwhile, the EBITDA margins for the quarter under review contracted by 220 basis points to 14 percent.
Trent Limited, a Tata group enterprise, is involved in the retail industry. The company ranks second among its retail peers on the basis of its market cap. Its business primarily revolves around retailing apparel, footwear, accessories, and home products through its brands such as Westside, Landmark, Zudio and Star Bazaar.
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Trent hits 52-week high on 46% YoY rise in quarterly net profit - Moneycontrol
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