MUMBAI: Trent reported a 25.4% rise in consolidated net profit to ₹468.09 crore for the September quarter, while revenue from operations increased 21.9% to ₹5,873.14 crore. The Tata group retailer filed its unaudited July-September 2026 results on 29 October, reporting higher sales and profit than a year earlier.

The comparable quarter had revenue of ₹4,817.60 crore and net profit of ₹373.42 crore. Profit attributable specifically to the company’s owners rose 23.1%, to ₹463.77 crore from ₹376.86 crore. That owners’ figure excludes the portion belonging to non-controlling interests and is distinct from the total consolidated profit used in the headline comparison.

Trent shares closed at ₹2,861.70 on NSE, down ₹52.20, or 1.79%, against the previous close of ₹2,913.90. The exchange quote was marked 29 October, 16:00 IST. The results announcement was broadcast at 16:08:05, after that closing snapshot, so the day’s fall should not be presented as a reaction to these results.

The board approved the accounts at a meeting that began at 12:15 pm and ended at 3:45 pm. The filing includes a limited review by Deloitte Haskins & Sells LLP, with an unmodified conclusion. These are second-quarter figures for FY2026-27, not full-year earnings.

Fashion stores expand, with 999 Zudio outlets at quarter-end

Trent opened 10 Westside and 19 Zudio stores during the quarter and consolidated two Zudio stores. Its closing portfolio comprised 311 Westside outlets, 999 Zudio outlets, including seven in the UAE, and 32 stores across other lifestyle concepts. Its fashion brands occupied more than 18.5 million square feet across 339 cities, including three in the UAE.

The company also announced the opening of its thousandth Zudio store during the quarter. That milestone does not mean the closing store count was 1,000: the same release records the two consolidations and a September-end total of 999. Beauty and personal care, innerwear and footwear together contributed more than 21% of revenue.

The investor presentation puts like-for-like growth across the fashion portfolio in the mid-single digits. This measures performance within the comparable portfolio, rather than treating all growth from new stores as growth at existing outlets. Around 85% of Zudio stores opened in the quarter were in peripheral growth markets or Tier II cities and beyond, according to the company.

Trent said newer and secondary markets have a longer maturity profile, making their stores different from established locations when comparing performance. It also cautioned that quarterly openings are uneven because property development, fit-outs and regulatory approvals affect timing. The presentation lists Westside’s retail area at over 7.46 million square feet and Zudio’s at over 11.02 million square feet. These qualifications matter alongside the larger network: a higher store count alone does not describe how each location is trading.

Star sales and the consolidated accounts have different boundaries

The food and grocery presentation records sales excluding GST of ₹1,006 crore, against ₹826 crore a year earlier, including Zudio shop-in-shops. Own brands accounted for 74% of sales, compared with 73%. Fresh products represented 20% of the mix, staples 28%, FMCG 23%, and general merchandise and apparel 29%.

Those grocery sales should not be added to Trent’s reported consolidated revenue. Trent Hypermarket is accounted for using the equity method: its revenue is excluded from the consolidated sales line, while Trent’s proportionate share of profitability enters the reported results. The Star network ended the quarter with 87 stores across 13 cities after one addition.

Chairman change takes effect in November

In a separate board disclosure, Trent said Noel N. Tata will retire as chairman and director at the close of business on 11 November 2026 under the Tata group’s governance guidelines. He will become chairman emeritus on 12 November. Bahram Vakil will take over as chairman on the same date, rather than immediately on the results announcement day.

The board also approved Rajiv Dube’s appointment as an additional non-executive, non-independent director from 30 October, subject to shareholder approval. Kalpana Merchant becomes an additional director from that date; her proposed independent-director term runs for three years, through 29 October 2029, also subject to shareholder approval. The filing therefore separates the effective dates from the approvals still required.

Dalimss News is also tracking the day’s IndiGo quarterly results. Its retail coverage includes Good Earth’s Gurugram flagship, a separate store-opening report rather than part of Trent’s business.