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Trent rises on reporting multi-fold jump in Q4 PAT

29-Apr-24 16:34 Hrs IST

Revenue from operations jumped 51.08% year on year (YoY) to Rs 3,297.70 crore in the quarter ended 31 March 2024.

Profit before exceptional Item and tax stood at Rs 301.03 crore in Q4 FY24, steeply higher than Rs 60.17 crore in the corresponding quarter last year. The firm recorded an exceptional profit of Rs 576.07 crore during the quarter and an exceptional loss of Rs 3 crore in Q4 FY23.

As of 31 March 2024, the company?s portfolio included 232 Westside, 545 Zudio and 34 stores across other lifestyle concepts. During the quarter, the firm added 12 Westside and 86 Zudio stores across 65 cities including 25 new cities.

In Q4 FY24, Trent?s fashion concepts registered encouraging like -for- like (LFL) growth of over 10% vis-?-vis Q4 FY23. Across all Trent?s brands, company is focused on delivering consistent value to its customers through attractive product offerings. In addition, company?s stores continued to provide an elevated brand experience even as it has accelerated expansion.

The Star business, consisting of 66 stores, continued to witness improved customer traction with growing sales densities. The business registered operating revenue growth of 30% in Q4 FY24 vs the corresponding previous period. Almost, the entirety of this growth was from like-for-like stores. The business registered an all-round operating performance improvement, driven by brands, staples, fresh & general merchandise offerings.

The emerging categories including beauty and personal care, innerwear and footwear continued to gain traction with customers. Emerging categories contribute to over 20% of standalone revenues.

Westside.com together with proposition on the Tata Neu platform continued to grow profitably and this combined online presence contributed to over 6% of Westside revenues.

Noel N Tata, chairman of Trent said, ?In a competitive market, we continue to experience resonance and customer traction for our lifestyle offerings across brands, concepts, categories and channels. The growing of our offerings, resilience of our business model choices and the strength of our platform are reflected in our business results.

We have applied Trent?s playbook to the Star business and are witnessing strong customer traction. This reinforces our conviction to build out this growth engine in the food, grocery, and general merchandising space. The success of own branded products also augurs well for the Star business. We are confident that this business is well poised to shift gears and deliver substantial value to customers and shareholders going forward.

We remain excited about the huge consumer market opportunity that lies ahead. We are still in the initial laps of our journey to address this opportunity.?

Meanwhile, the board has recommended a final dividend of Rs 3.20 per equity share for the financial year ended 31 March 2024, subject to the approval of shareholders. The record date for the same is fixed as 22 May 2024 and the dividend shall be paid on or after 14 June 2024.

Trent is part of the Tata Group and operates a portfolio of retail concepts. The primary customer propositions of Trent include Westside, one of India's leading chains of fashion retail stores, Zudio, a one stop destination for great fashion at great value and Trent Hypermarket, which operates in the competitive food, grocery and daily needs segment under the Star banner. Trent's new fashion concepts include Samoh, a differentiated & elevated occasion wear offering and Misbu that offers a curated & compelling range of beauty, personal care and fashion accessories.