India's Tata-owned Trent Q3 profit jumps more than two-fold on festive demand

ARVIND FASHIONS

07/02/2024 08:14

BENGALURU, Feb 7 (Reuters) - Indian retailer and hypermarket operator
Trent  TREN.NS  reported a more-than-two-fold jump in third-quarter profit on
Wednesday, driven by robust demand during the festive period.
    The Tata Group-owned company reported a consolidated net profit of 3.71
billion rupees (about $45 million) for the three months ended Dec. 31, from 1.55
billion rupees a year earlier.
    Shares of the company rose 10% after the results.
    A surge in apparel purchases during the festive period boosted Trent's
revenues, which rose nearly 51% to 34.67 billion rupees, outpacing the about 42%
rise in its total expenses. 
    The festive period in India typically spans from October to late November. 
    Trent opened five Westside and 50 Zudio stores during the quarter, boosting
the store counts under these brands to 227 and 460, respectively. 
    Its peers Arvind Fashions  ARVF.NS  and Aditya Birla Fashion Retail
 ADIA.NS  will report next week.

($1 = 82.9450 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Mrigank
Dhaniwala)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))