Trent July-September Profit Rises 6.5% on Higher Store Additions, GST Cut Boost

Trent Ltd. reported a 6.5% on-year rise in net profit to ₹4.5 billion for the September quarter, helped by new store openings during the festive period and a goods and services tax reduction on premium apparel.

Revenue grew 17% on year to ₹47.2 billion, while total expenses surged 18% to ₹42.7 billion, driven by higher depreciation and stock-in-trade purchases. Depreciation and amortisation jumped 64.6% to ₹3.2 billion, reflecting accelerated store expansion, while stock-in-trade purchases rose nearly 12% to ₹29.8 billion.

A 5.2% fall in tax outgo to ₹1.3 billion, aided by the GST rate revision, supported bottom-line growth.
During April–September, revenue rose 18.4% on year to ₹95 billion and net profit grew 14% to ₹8.7 billion.

The Tata Group retailer added 19 Westside and 44 Zudio stores in the quarter, taking its total count to 261 Westside and 806 Zudio outlets, spanning over 14 million sq ft as of September 30.

Emerging categories—such as beauty, personal care, innerwear, and footwear—contributed over 21% to overall revenue. Online sales rose 56% and made up more than 6% of Westside’s total revenue during the quarter.

Trent’s earnings before interest and tax grew 9% on year to ₹4.77 billion, while EBIT margin narrowed to 10% from 11% a year earlier. Operating EBITDA rose 16% to ₹5.75 billion.

The company’s food and grocery arm, Star, saw a marginal dip in sales to ₹8.79 billion. The business operates 77 stores across 10 cities, covering 1.3 million sq ft of retail space.

Trent said consumer sentiment was “relatively muted” during the quarter, impacted by unseasonal rains, but expects demand to pick up for small-ticket discretionary categories over the medium term.