Trent's Q4 net profit surges to Rs 712.09 crore

Trent Limited, a part of the Tata Group, on Monday has reported a huge surge in consolidated net profit at Rs 712.09 crore in the fourth quarter (Q4) ended March 2024, due to accelerated expansion coupled with focused execution. Its consolidated net profit was at Rs 44.95 crore in the same quarter of last fiscal, it said in a regulatory filing.

The company's total income has seen a jump of 48.7 per cent to Rs 3,374.57 crore in Q4 FY24 as against Rs 2,268.06 crore in the corresponding quarter of the previous fiscal.

Trent's total expenses has also increased to Rs 3,073.54 crore in Q4 FY24 as compared to the total expenses of Rs 2,207.89 crore in Q4 FY23, as per the BSE filing.

On the overall performance, the company said, "The change in the revenue profile across our formats remains aligned with our strategic objectives and plans. The gross margin profile of Westside and Zudio continue to remain consistent with earlier trends. Overall, Operating EBIT margin for Q4 FY24 was 8.2 per cent as against 2.8 per cent for Q4 FY23."

Westside.com together with the company's proposition on the Tata Neu platform has continued to grow profitably and this combined online presence has contributed to over 6 per cent of Westside revenues.

In Q4FY24, the company's fashion concepts registered LFL growth of well over 10 per cent vis-à-vis Q4FY23, it said in a media release. "Across all our brands, we remain focused on delivering consistent value to customers through attractive product offerings. In addition, our stores continue to provide an elevated brand experience even as we have accelerated expansion," it added further.

The emerging categories including beauty & personal care, innerwear and footwear have continued to gain traction with customers. These emerging categories now contribute to over 20 per cent of Trent's standalone revenues.