Trent posts lower-than-expected profit

TATA GROUP'S VALUE fashion brand Trent on Thursday reported a lower-than-expected consolidated net profit of ₹496.54 crore, up 34% from ₹370.64 crore a year ago.

- RAGHAV AGGARWAL

ITC ON THURSDAY reported a lower-than-expected net consolidated profit of ₹4,934.8 crore, down 7.5% from ₹5,335.2 crore a year ago. The Bloomberg consensus estimates had pegged the net profit at ₹5,299 crore for Q3FY25.

Revenue from operations, however, was up at ₹20,350 crore, beating the estimates of ₹18,654 crore. It was 9.1% higher than ₹18,660 crore a year ago. The company's Ebitda jumped 2.4% to ₹6,362 crore.

The revenue growth was mainly driven by the company's agri and cigarette businesses. The revenue of the agri business segment rose 9.7% y-o-y led by leaf tobacco and value-added agri products. For the cigarettes business, under which it sells the famous Gold Flake, the revenue growth came in at 8% y-o-y.

Its hotels business recorded its best-ever quarterly performance, with a revenue growth of 14.6%. However, the business was demerged on January 1, and has now been listed as a separate entity. ITC's consumer goods business, which deals in brands like Aashir-vad, Sunfeast and Bingo, reported a lower growth of 4% amid muted demand conditions. "Severe inflationary headwinds were witnessed across several key inputs (edible oil, wheat, maida, potato, cocoa, packing inputs, etc) during the quarter," the company said.