Trent, a Tata Group company, registered multifold increase in September quarter net profit at ₹228 crore, against ₹79 crore in the same period last year, on the back of higher revenues.

Income increased 51 per cent to ₹3,062 crore (₹2,023 crore), and overall expenses were up at ₹2,774 crore (₹1,899 crore).

Given the accounting standards, the consolidated top line does not include revenues of Trent Hypermarket business, but includes the proportionate share of profitability of this venture accounted basis the equity method, the company said.

Star business

The Star business, consisting of 65 stores, registered operating revenue growth of 30 per cent year-on-year, on the back of strong volume growth. The business experienced an all-round operating performance improvement, driven by fresh, general merchandise, and apparel categories.

Noel N Tata, Chairman, Trent, said despite challenging market conditions, the lifestyle offerings across categories and channels witnessed strong momentum.

“We will expand and deepen our store presence with the aim of being ever more proximate and convenient to customers, reinforcing our brand promise.

“The company has applied the playbook in the Star business and is witnessing strong customer traction, instilling a growing conviction to build out this growth engine in the food and grocery space. We are confident that this business is well poised to shift gears and deliver substantial value to customers and shareholders going forward,” he said.

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