Trent zooms 9% as performance improves rapidly in Q2

NEW DELHI: Shares of surged 9 per cent in Wednesday's session after the Tata group retail firm posted an on-year consolidated net profit of Rs 79.99 crore in the July-September quarter, amid easing of the coronavirus crisis, as against a net loss of Rs 78.56 crore in the same period last year.

The counter touched a high of Rs 1,132.30 on the National Stock Exchange, 9.1 per cent higher than the previous close.

For the quarter under review, Trent’s revenue from operations witnessed an over-two-fold jump to Rs 1,178.08 crore versus Rs 585.37 crores a year ago.

According to Chairman Noel Tata, the company saw a rapid recovery in customer offtake beginning from the middle of June as businesses resumed in many markets, a report by PTI said.

Trent’s fashion business has in particular recovered well and has now returned to operating profitability, Tata said.

The company’s focus remains on constructing differentiated brands and robust improvement of reach through both stores as well as digital platforms. The online channel of Trent registered a growth of over 95 per cent in the July-September period on a sequential basis.