Trent Ltd shares soared over 19% after reporting a doubled net profit in Q3, driven by robust sales and improved margins. The company's market valuation also surged.
New Delhi, Feb 7 (PTI) Shares of retail firm Trent Ltd on Wednesday zoomed over 19 per cent after the company reported a two-fold rise in consolidated net profit to Rs 370.64 crore for the December quarter, helped by strong momentum in sales and improved margins.
The stock jumped 18.94 per cent to settle at Rs 3,609.25 apiece on the BSE. During the day, it surged 19.78 per cent to Rs 3,635 -- its 52-week high.
On the NSE, it zoomed 19.48 per cent to Rs 3,626.30 per share.
The company's market valuation climbed Rs 20,431.64 crore to Rs 1,28,304.31 crore.
In volume terms, 2.88 lakh shares of the firm were traded on the BSE and over 58.46 lakh shares on the NSE during the day.
The company had posted a consolidated net profit of Rs 154.81 crore a year ago, Trent Ltd said in a regulatory filing.
Trent Ltd operates retail stores under the brand name Westside, Zudio and Star.
Its consolidated revenue from operations surged 50.5 per cent to Rs 3,466.62 crore during the quarter under review. It was Rs 2,303.38 crore in the year-ago period, it added.
"Across formats, we continued to register consistent growth, serving as a reaffirmation of our strategic choices. Our operating discipline, coupled with a focus on the speed of execution, supported our expansion agenda. Change in the revenue profile across formats remains aligned with our strategic objectives and plans," said an earning statement from Trent.
The total consolidated income rose 50 per cent to Rs 3,546.95 crore in the December 2023 quarter.
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