By Malvika Gurung
Investing.com — Shares of the retail major Trent (NS:TREN) slashed 5.5% on Friday to hit the day’s low at Rs 1306.2 apiece after the company posted its earnings results for the quarter ended March 31, 2023.
The Tata Group company’s shares declined on Friday despite posting a rise in bottomline and topline figures for the March ended quarter on a YoY basis.
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However, both of these figures in Q4 FY23 shed sharply on a sequential basis, compared to the numbers reported in the quarter ended December 31, 2022.
On a YoY basis, Trent’s consolidated net profit in the March 2023 quarter rallied 115.66% to Rs 45.01 crore, and total income jumped 65.2% to Rs 2,268.06 crore in the period.
However, the company’s consolidated net profit tanked 70.9% QoQ in the quarter under review and total income slipped 4.1% sequentially.
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For the financial year 2022-23, Trent’s consolidated net profit skyrocketed 1,037.8% to Rs 393.69 crore compared to Rs 34.6 crore in the same quarter last year. Its total income in the fiscal jumped 81.9% YoY to Rs 8,502.94 crore.
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Further, the leading retail firm’s Operating Margin expanded to 5.38% in FY23 from 4.69% in FY22, and the Net Profit Margin improved sharply to 4.85% from 0.78% in the preceding fiscal.
