The shares of this large-cap company jumped 9 percent on NSE after announcing strong Q2 FY24 results. In the past six months, the share has delivered around 73 percent returns to its shareholders.
With a market capitalization of Rs. 79,350 crores, the shares of Trent Ltd opened their Tuesday trading session flat at Rs. 2,234 level. During the day, the stock hit an intraday high at Rs. 2,450 making a gain of around 9 percent which is also recorded as the company’s fresh 52-week high, and closed its trading day at Rs. 2,424 apiece.
Such a positive movement was recorded after the company announced its June-September results. The company’s revenue increased by around 13 percent from Rs. 2,628 crores in the June quarter to Rs. 2,982 crores in the September quarter. In addition to this, the net profit zoomed by around 27 percent from Rs. 288 crores to Rs. 166 crores during the same timeframe.
Comparing these metrics on a YoY basis, the revenue jumped by 52 percent from Rs. 1,952 crores during Q2 FY23 to Rs. 2,982 crores in Q2 FY24. Furthermore, the net profit accelerated by 188 percent from Rs. 78.94 crores to Rs. 228.06 crores during the same period.
Looking at the important financial ratios, the return on equity (RoE) increased from 1.48 percent in FY21-22 to 15.88 percent during FY22-23, and the return on capital employed (RoCE) surged from 15.93 percent to 32.28 percent during the same time horizon.
According to the latest shareholding pattern, Promoters have a 37.01 percent stake in the company, the public or Retail Investors have 21.93 percent shares, FIIs have a considerable stake of 21.64 percent, and the remaining 19.42 percent shares are with DIIs.
Headquartered in Mumbai, Trent Ltd is an Indian retail company which a part of Tata Group. The company operates Westside, a retail fashion chain, and Landmark, a bookstore chain with brick and mortar stores in various locations across India.
Written By Vaibhav Patil
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