Shares of Trent rose 7% to Rs 1,324.95 in intraday trade on the BSE on Thursday after the company reported strong growth in revenue for the December quarter (Q3FY23). In contrast, the S&P BSE Sensex rose 0.05% to 60,691 at 10:45 am.

The company said its consolidated revenue in Q3FY23 was Rs 2,460 crore, up 53% from Q3FY22 and 185% from Q3FY20. Profit after tax rose 21% year-on-year to Rs 161 crore.

At noon, Trent stock was holding firm with a 7% gain at Rs 1,322.5 per share. According to exchange data, as many as 98,000 shares of Trent have changed hands so far that day, compared with the 37,000 daily average over the past two weeks.

Trent is part of the Tata group, which operates a range of retail concepts. Trent’s key client propositions include Westside (one of India’s leading fashion retail chains), Zudio (a one-stop destination for excellent value fashion) and Trent Hypermarket (operating in a competitive food, grocery and banner.

Trent said that due to higher revenue growth in the quarter, Star business has a compact footprint store and focus on fresh food and private label products, with increasing sales density and increasing customer attractiveness. Given the increasingly favourable economic conditions at the store level, management is optimistic that the company has a differentiated and scalable model. As such, management sees Star as a key and additional growth engine in its portfolio.