Trent reported a 25 per cent year-on-year rise in consolidated net profit to ₹468 crore for the July–September 2026 quarter, as expansion of its Zudio fashion chain and growth in Star grocery revenues lifted performance. The results were announced alongside a leadership transition under which Noel N Tata will step down as chairman and director of Trent after nearly three decades with the company.
Consolidated revenue from operations increased 22 per cent to ₹5,873 crore from approximately ₹4,814 crore in the corresponding quarter last year. On a standalone basis, net profit rose 9 per cent to ₹490 crore from approximately ₹451 crore, while revenue increased 23 per cent to ₹5,788 crore from ₹4,724 crore.
Standalone operating EBITDA climbed 37 per cent to ₹791 crore from approximately ₹577 crore. The operating EBIT margin improved to 11.6 per cent from 10.5 per cent. The slower growth in standalone profit was partly attributed to a ₹96-crore pre-tax gain from asset sales in the year-ago quarter.
The company’s store expansion continued to be a major contributor to growth. Zudio’s network increased 23.9 per cent to 999 outlets from 806 a year earlier, while Westside grew 19.2 per cent to 311 stores from 261. Trent opened 19 Zudio and 10 Westside outlets during the quarter.
Approximately 85 per cent of the new Zudio outlets were opened in peripheral growth markets or Tier 2 cities and beyond. The company said its like-for-like fashion sales grew in the mid-single digits, indicating that network expansion remained an important part of the quarter’s revenue growth. Noel Tata said the company was encouraged by the reception for its brands and had the conviction to expand further into hinterland markets.
Star grocery revenue increased 21.8 per cent to ₹1,006 crore from ₹826 crore a year earlier. The chain’s own brands accounted for 74 per cent of sales, compared with 73 per cent previously. Star’s network reached 87 stores across 13 cities. Its revenue is excluded from Trent’s consolidated turnover because of equity-method accounting, although its proportionate profitability is recognised.
The leadership change will take effect at the close of business on November 11, according to the company’s regulatory filing. Noel Tata, who has been associated with Trent since 1997, will become chairman emeritus from November 12. Bahram Vakil will succeed him as chairman on the same date.
Trent has also appointed Rajiv Dube as an additional non-executive, non-independent director from October 30, subject to shareholder approval. Tata Group governance guidelines were cited in the announcement regarding Noel Tata’s departure from the board.
The company said it would continue using internal accruals for store expansion, refurbishment, warehousing, supply chains and automation, without specifying a capital expenditure amount. Beauty and personal care, innerwear and footwear contributed more than 21 per cent of revenue, while Westside’s online sales grew 20 per cent during the first half.
Trent expects its annual store-opening trajectory to remain broadly consistent, while identifying inflation, supply-chain disruptions and competition as continuing challenges.
