trent q4 results: Trent Q4 Results: Net profit soars multifold to Rs 712 crore, dividend declared at Rs 3.2/share

Fashion and lifestyle player Trent on Monday reported a multifold jump in consolidated net profit at Rs 712 crore for the quarter ended March 31, 2024. The profit stood at Rs 45 crore in the corresponding quarter last fiscal.

The company reported a revenue of Rs 3,298 crore, up 51% year-on-year (YoY) from Rs 2,183 crore reported by the company in Q4FY23.

The earnings before interest, taxes, depreciation, and amortization (EBITDA) for Q4FY24 rose 126% YoY to Rs 477 crore as compared to Rs 211 in Q4FY23. Meanwhile, the margin for Q4FY24 rose to 15% as compared to 10.2% in Q4FY23.

The board of directors of the company also recommended a dividend of 320% i.e., Rs 3.20/- per equity share of Re 1/- each, subject to the approval of shareholders. The dividend, if approved, shall be paid on or after the second day from the conclusion of the 72nd annual general meeting.

As of 31st March 2024, the company’s store portfolio included 232 Westside, 545 Zudio and 34 stores across other lifestyle concepts. During the quarter, it added 12 Westside and 86 Zudio stores across 65 cities including 25 new cities.”In Q4FY24, our fashion concepts registered encouraging LFL growth of well over 10% vis-à-vis Q4FY23. Across all our brands, we remain focused on delivering consistent value to customers through attractive product offerings. In addition, our stores continue to provide an elevated brand experience even as we have accelerated expansion,” the company said in an exchange filing.The emerging categories including beauty & personal care, innerwear and footwear continued to gain traction with customers. These emerging categories now contribute to over 20% of its standalone revenues.Westside.com together with our proposition on the Tata Neu platform continues to grow profitably and this combined online presence contributes to over 6% of Westside revenues, it said.

On the performance of Q4 results, 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,” Noel Tata said.

During the current quarter the term of leases has been reassessed, resulting in an exceptional gain of Rs 543 crores, tax impact thereon is Rs 137 crores (net of tax Rs 406 crores) and the same has been recognized as an exceptional item. Consequently, the Right of Use Assets and Lease Liabilities stand reduced by Rs 2,720 crores and Rs 3,247 crores respectively. The EPS without this exceptional gain is Rs 28.95.

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