Tata Group retail firm Trent Ltd on Wednesday reported a 45.1 percent year-on-year (YoY) jump in net profit at Rs 166.7 crore for the first quarter that ended June 30, 2023.

In the corresponding quarter last year, Trent posted a net profit of Rs 114.9 crore, the company said in a regulatory filing.

In the quarter, total revenue stood at Rs 2,628.37 crore, increased 45.8 percent against Rs 1,803.15 crore in the corresponding period of the preceding fiscal.

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At the operating level, EBITDA jumped 26.2 percent to Rs 367.4 crore in the first quarter of this fiscal over Rs 291.13 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 14.0 percent in the reporting quarter as compared to 16.1 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The change in the revenue profile across formats continues to remain aligned with our expansion strategy. Operating EBIT margin for Q1 of FY24 was 8.8 percent (10.2 percent for Q1 of FY23). The total expenses were higher at Rs 2,494.69 crore compared to Rs 1,734.28 crore a year ago, the company said.

As of June 30, 2023, Trent's portfolio included 221 Westside, 388 Zudio, and 23 stores across other lifestyle concepts. During the quarter, the company added 7 Westside and 40 Zudio stores across 35 cities.

Shares of Trent Ltd ended at Rs 1,797.45, up by Rs 84.55, or 4.94 percent on the BSE.

First Published:Aug 9, 2023 3:45 PM IST