Trent Ltd Reports 56% Revenue Growth In Q1FY25
Trent Ltd has announced a remarkable financial performance for the quarter ending June 30, 2024, with standalone revenues rising by 56% to Rs 4,228 crore, compared to Rs 2,704 crore in the same period last year. The company also reported a significant 133% increase in profit before tax (PBT), reaching Rs 450 crore. This translates to a compounded annual growth rate (CAGR) of 39% for both revenues and PBT since Q1FY20.
During the quarter, Trent expanded its store network, adding 6 Westside and 16 Zudio stores across 12 cities, bringing its total to 228 Westside stores, 559 Zudio stores, and 36 stores in other lifestyle concepts. The company’s operating EBIT margin improved to 10.6%, up from 7.8% in Q1FY24.
Both Westside and Zudio achieved double-digit like-for-like (LFL) growth despite market challenges, including heatwaves and general elections. Emerging categories such as beauty, personal care, innerwear and footwear now account for over 20% of standalone revenues. E-commerce channels, including Westside.com and Tata Neu, grew by over 30%, contributing more than 5% to Westside’s revenue.
On a consolidated basis, Trent reported a 55% increase in revenues to Rs 4,354 crore and a 136% rise in PBT to Rs 501 crore. The Star business, which added 6 new stores this quarter, saw a 29% revenue growth and over 20% LFL growth, contributing over 70% to its total revenue.
Chairman Noel N Tata praised the company’s performance amid a competitive market, highlighting Trent’s successful expansion and strong customer traction. He emphasized the ongoing growth and potential of the Star business and expressed confidence in the company’s continued success and value creation for shareholders.
