Tata Group‘s subsidiary, Trent Limited, has reported a surge in consolidated net profit, reaching INR 712.09 crore in the fourth quarter (Q4) ended March 2024. This increase can be attributed to accelerated expansion efforts and focused execution strategies. According to regulatory filings, the company’s consolidated net profit in the same quarter of the previous fiscal year was INR 44.95 crore.
In Q4 FY24, the company’s total income surged by 48.7 percent, reaching INR 3,374.57 crore, compared to INR 2,268.06 crore in the corresponding quarter of the previous fiscal year.
According to the BSE filing, Trent’s total expenses rose to INR 3,073.54 crore in Q4 FY24, compared to INR 2,207.89 crore in Q4 FY23.
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Regarding the overall performance, the company stated, “The shift in revenue distribution among our formats is in line with our strategic goals and initiatives. The gross margin trends for Westside and Zudio remain consistent with previous patterns. In Q4 FY24, the Operating EBIT margin stood at 8.2 percent, compared to 2.8 percent in Q4 FY23.”
The growth of Westside.com alongside the company’s offering on the Tata Neu platform has remained profitable. This joint online presence has contributed to over 6 percent of Westside’s revenues.
According to a media release, the company’s fashion concepts experienced a like-for-like (LFL) growth of well over 10 percent in Q4FY24 compared to Q4FY23. The release also stated, “We are committed to delivering consistent value to customers through appealing product offerings across all our brands. Additionally, despite accelerated expansion, our stores maintain an elevated brand experience.”
The categories of beauty & personal care, innerwear, and footwear have continued to attract customers’ interest. These emerging categories now account for over 20 percent of Trent’s standalone revenues.
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