Trent Reports Strong Q3 Growth As Westside And Zudio Expand Footprint

Trent Limited reported strong growth in the third quarter of FY26, driven by continued momentum in its fashion formats and expansion of its store network across India and overseas markets. The company’s performance was supported by steady demand, improved operating efficiencies and disciplined inventory and sourcing strategies.

On a standalone basis, Trent recorded revenue from operations of Rs 5,259 crore in Q3 FY26, registering 16 percent year-on-year growth, while operating EBITDA rose 23 percent to Rs 822 crore. Profit after tax (adjusted for the impact of the new Labour Code) stood at Rs 660 crore, marking a 41 percent increase year-on-year.

For the nine months ended December 2025, standalone revenue reached Rs 14,765 crore, up 18 percent year-on-year, with EBITDA of Rs 2,019 crore, reflecting 23 percent growth and adjusted PAT of Rs 1,534 crore, up 24 percent.

On a consolidated basis, the company reported revenue of Rs 5,345 crore in Q3 FY26, reflecting 15 percent growth year-on-year, while operating EBITDA rose 20 percent to Rs 837 crore. Adjusted PAT stood at Rs 531 crore, up 7 percent year-on-year. For the nine-month period, consolidated revenue reached Rs 15,046 crore, an increase of 16 percent, with EBITDA rising 20 percent to Rs 2,049 crore and adjusted PAT growing 9 percent to Rs 1,329 crore.

Trent continued to expand its retail footprint during the quarter, opening 17 Westside stores and 48 Zudio stores, including one Zudio store in the UAE. As of December 31, 2025, the company operated 278 Westside stores and 854 Zudio stores, along with 32 stores across other lifestyle concepts, taking its total fashion retail footprint to over 15 million square feet across 274 cities. The company noted that the gross margin profile of both Westside and Zudio remained stable, with operating EBIT margin improving to 13.8 percent in Q3 FY26, compared with 13.2 percent in the same period last year.

Commenting on the performance, Noel N. Tata, Chairman, Trent Limited, said, “On a higher base, our fashion business registered category-leading growth during the quarter. Customer sentiment is gradually improving and our business outlook for the medium term continues to remain positive. Our focus continues to be on portfolio growth, elevating products and enhancing store experience for our customers.”

He added that the company remains committed to building a strong direct-to-customer business and strengthening its relevance across diverse consumer segments and markets.

In the Star business, which operates 79 stores, the company continued to focus on improving differentiation and customer convenience through technology-led interventions. The contribution of own brands in the Star portfolio has risen to over 74 percent of revenues, reflecting progress in strengthening private-label offerings. While store expansion in this segment has been slower than expected, the company indicated plans to accelerate growth in the coming periods, while calibrating the portfolio to remain competitive in the rapidly evolving food retail market.

Looking ahead, Trent remains focused on expanding its store network, strengthening its brand portfolio and enhancing the customer experience across formats. The company expressed confidence that its disciplined operating model and focus on consumer relevance will continue to support sustained growth in the medium term.