BENGALURU: Indian retailer and hypermarket operator Trent on Tuesday reported an almost three-fold surge within the second-quarter revenue due to robust demand, sending its shares to a file excessive.
The Tata Group-owned firm’s consolidated web revenue rose to 2.35 billion rupees ($28.23 million) within the quarter ending September 30, regardless of a 46% rise in whole bills.
Shares of Trent rose as a lot as 8.7% to a file excessive of two,427.1 rupees after the outcomes.
The September quarter witnessed a surge in demand forward of the festive season, and gross sales have been additionally boosted by purchases for weddings.
The gross margin profile of Trent’s Westside and Zudio shops continued to develop through the quarter, the corporate mentioned in an change submitting.
Most Indian companies grappled with decrease footfalls through the September quarter as rising inflation pushed shoppers to tighten their belts.
Retail inflation in India eased in contrast with the yr in the past interval however continued to remain above the Reserve Financial institution of India’s tolerance zone of two% to six%, with the one respite occurring in September, when the value gauge dropped to a three-month low of 5%.
Nonetheless, Trent’s consolidated income from operations rose 52.7% to 29.82 billion rupees within the September quarter.
The corporate, which additionally owns and operates the Star Bazaar hypermarket chain in partnership with UK’s Tesco, witnessed improved footfalls.
Its peer Arvind Fashions reported a 19% rise in second-quarter revenue on Tuesday.
Aditya Birla Trend and Retail will report its outcomes later this week.
The Tata Group-owned firm’s consolidated web revenue rose to 2.35 billion rupees ($28.23 million) within the quarter ending September 30, regardless of a 46% rise in whole bills.
Shares of Trent rose as a lot as 8.7% to a file excessive of two,427.1 rupees after the outcomes.
The September quarter witnessed a surge in demand forward of the festive season, and gross sales have been additionally boosted by purchases for weddings.
The gross margin profile of Trent’s Westside and Zudio shops continued to develop through the quarter, the corporate mentioned in an change submitting.
Most Indian companies grappled with decrease footfalls through the September quarter as rising inflation pushed shoppers to tighten their belts.
Retail inflation in India eased in contrast with the yr in the past interval however continued to remain above the Reserve Financial institution of India’s tolerance zone of two% to six%, with the one respite occurring in September, when the value gauge dropped to a three-month low of 5%.
Nonetheless, Trent’s consolidated income from operations rose 52.7% to 29.82 billion rupees within the September quarter.
The corporate, which additionally owns and operates the Star Bazaar hypermarket chain in partnership with UK’s Tesco, witnessed improved footfalls.
Its peer Arvind Fashions reported a 19% rise in second-quarter revenue on Tuesday.
Aditya Birla Trend and Retail will report its outcomes later this week.
