The stock of Trent, the largest listed apparel retail company, surged on Friday after the company exceeded Street expectations for the April-June quarter (Q1) of 2024-25 (FY25). The Tata-owned company boosted shareholder wealth by 11.2 per cent inasingle day, bringing the week's gains to 16 per cent. Over the past year, the stock has been a top wealth creator in the S&P BSE 100, rising 3.3 times, or 231 per cent.
Standalone revenues for the guarter increased by 56 per cent year-on-year (Y-0-Y) to₹3.992 crore (consolidated at ₹4,104 crore), coming off a high base. The previous year's quarter had registered a growth of 46 per cent. The company has more than doubled its revenue over the past eight quarters, with a twelvefold increase since Q1 of 2021-22. Growrth for the company in the June quarter was driven by both like-for-like (LFL) improvement and expansion of the store network. It reported double-digit LFL growth for its fashion concepts (Westside and Zudio).
This story is from the August 12, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the August 12, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
IT stocks suffer biggest one-day fall in six weeks
Accenture promotion delay, past Fed rate cuts cited
Cabinet clears 'One Nation, One Poll' and host of proposals in farm to space
Soon after completing 100 days in office, the National Democratic Alliance (NDA) government has taken a series of decisions that would have political and economic implications for the country.
Tata Power to scale up internal RE component supply chain
Plans to manufacture key parts rather than buying them
IT staffers' FY25 salary hikes may be 5.5-8%
Experts say top performers may continue to see increases ranging from 12-18%
RInfra pares debt by 87% to ₹475 cr
Anil Ambani group firm Reliance Infrastructure (RInfra) and its subsidiary Reliance Power (RPower) have cleared a major part of their debt, with RInfra reducing its standalone external borrowing by almost 87.6 per cent to ₹475 crore, down from ₹3,831 crore as on June, according to stock exchange notices.
'No plans to phase out Kwid until rules allow'
Renault India, which saw a 33 per cent decline in sales in 2023, is facing a challenging 2024. The company's Managing Director and Chief Executive Officer VENKATRAM MAMILLAPALLE, discusses the firm's revival plans, launch strategy, and the future of the Kwid in an interaction with Shine Jacob in Chennai. Edited excerpts:
25-year-old company veteran Samir Kumar has cart full as he takes reins at Amazon India
Amazon has announced that Samir Kumar, a 25-year veteran of the company, will assume the role of head of its India consumer business effective October 1, 2024.
ZEEL refutes $940 mn Disney Star claim over ICC TV rights deal
Star India on Monday filed a statement of case seeking $940 million damages from Zee Entertainment Enterprises (ZEEL) over the terminated ICC TV rights deal, the latter said in a stock exchange filing.
Best option is to double down on mkt strategy: P&G India
Procter & Gamble Hygiene and Healthcare (PGHH) and Gillette India (GI), both listed entities of Procter & Gamble India, noted in their investor calls that despite near-term macroeconomic challenges, an above normal monsoon will help revive demand in India.
'Irreparable loss for us': EY India on death of CA
The death of 26-year-old chartered accountant Anna Sebastian Perayil is \"tragic\" and an \"irreparable loss\" for EY India, the company said in a statement on Wednesday.
