On Wednesday, shares of Trent Ltd has rallied 9 per cent to Rs 1,133 intra-day trade after the company reported a robust set of September quarter (Q2FY22) earnings, with standalone profit after tax (PAT) of Rs 126 crore on the back of healthy revenue. The Tata Group company had posted a loss of Rs 48 crore in a year ago quarter (Q1FY22).
In Q2FY22, the company’s standalone revenues were more-than-doubled or up 126 per cent to Rs 1,020 crore from Rs 452 crore in the corresponding quarter of the previous fiscal. Furthermore, a tight leash on operating overheads translated into the company reporting solid earnings before interest, tax, depreciation and amortization (Ebitda) margins of 21.7 per cent from 1.4 per cent in Q2FY21.
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Trent said the recovery in revenue coupled with various cost mitigation measures, including property-related pay-outs, led to improved operating profitability. The company witnessed a rapid recovery in customer offtake, starting from the middle of June 2021, as businesses reopened in many markets.
Stock Covered in the news
