Shares of Trent Ltd zoomed to a record high in early trade today after the Tata Group firm reported a 189% year-on-year rise in consolidated net profit at Rs 228 crore for the July to September quarter led by robust revenue growth. Trent’s net profit stood at Rs 78.94 crore in the corresponding quarter of last fiscal.
The stock hit a high of Rs 2465.80 today against the previous close of Rs 2428.20 on BSE. The stock has climbed 256% in the last three years and gained 626% in five years. In a year, the Tata Group stock has climbed 59.17%. Total 3207 shares of the firm changed hands amounting to a turnover of Rs 78.42 lakh on BSE. Market cap of the firm rose to Rs 86,893 crore on BSE. The Tata Group's multibagger stock hit a 52-week low of Rs 1155.10 on January 27, 2023. Trent shares have a beta of 0.9, indicating low volatility in a year.
In terms of technicals, the relative strength index (RSI) of the stock stands at 80.1, signaling it's trading in the strongly overbought zone. Trent stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Revenues zoomed 52.7% on-year to Rs 2,982 crore compared to Rs 1,953 crore in the corresponding quarter a year ago. Net income rose to Rs 3,062 crore in the second quarter of the current fiscal.
EBITDA or earnings before interest, taxes, depreciation and amortisation climbed 78.5% on-year to Rs 456.57 crore against Rs 255.81 crore in the year-ago quarter. EBITDA margins expanded to 15.3% in the last quarter against 13.1% YoY.
Trent's portfolio included 223 Westside, 411 Zudio and 27 stores across other lifestyle concepts. During the September quarter, Trent added 6 Westside and 27 Zudio stores across 19 cities, as of September 30, 2023.
Noel N Tata, Chairman, Trent said, "Our lifestyle offerings across concepts, categories and channels witnessed strong momentum in Q2FY24 despite challenging market conditions. We continue to see growing relevance for our offerings, resilience in our business model choices and attractiveness of our differentiated platform. We will expand and deepen our store presence with the aim of being ever more proximate and convenient to customers reinforcing our brand promise," Tata said.
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