Department stores firm Trent announced Q2FY23 results:

• Revenues up 78% over Q2FY22 | 120% over Q2FY20
• 30% revenue CAGR over Q2FY20
• Star registers highest-ever quarterly revenues | 14% CAGR over Q2 FY20
• Consolidated revenues for Q2FY23 at Rs 1,952 crore grew by 66% over Q2FY22 and 128% over Q2FY20. Profit after tax (attributable to equity shareholders) was Rs 93 crore for Q2FY23.

Speaking on the performance, Mr. Noel N Tata, Chairman, Trent Limited said, “Our fashion concepts have once again displayed encouraging growth momentum in Q2FY23. We have been a company that makes strategic bets/ business model choices that in many cases involve standing away from the predominant & proximate market practices of the time. Completely own branded offerings, entirely direct-to-consumer reach, not discounting in season and not advertising are all cases in point. 

We continue to expand our reach with vigour and reinforce our lifestyle offerings across concepts, categories and channels. The growing acceptance of our brands demonstrates the attractiveness of our platform and the tremendous potential to address opportunities that lie ahead.”

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