MUMBAI, India — Shares of Tata Group retailer Trent Limited plunged sharply on Tuesday, unsettling investors despite the company reporting double-digit revenue growth for the December quarter.
The stock fell as much as 8.3 percent to Rs 4,060.65 on the BSE during intraday trading, wiping out close to Rs 13,000 crore in market capitalization.
The selloff came even as Trent posted a 17 percent year-over-year increase in standalone revenue to Rs 5,220 crore for the October–December quarter. Investors, however, appeared more focused on signs of slowing growth rather than the headline revenue figure.
Analysts flagged weakening same-store sales and a continued decline in revenue per square foot, raising concerns about falling productivity across the retailer’s store network.
Trent, which operates popular brands such as Zudio and Westside, has been expanding aggressively, but the latest quarterly performance suggested that growth momentum may be moderating.
During the December quarter, the company added 48 net new Zudio stores and 17 net new Westside stores, taking the total number of Zudio outlets to 854 and Westside stores to 278.
By around 1:15 p.m., Trent shares were trading at Rs 4,092.90, down Rs 336.90, or 7.61 percent, from the previous close.
The stock has remained under pressure in recent periods. Over the past five trading sessions, it has fallen 3.51 percent, while losses over the last six months stand at about 25.5 percent. On a year-to-date basis, the shares are down 4.1 percent.
The latest decline has deepened longer-term losses for investors, with Trent shares now down more than 41 percent over the past year.
Founded in 1998, the Mumbai-based retailer operates fashion and lifestyle formats across India. In addition to Westside and Zudio, the Tata Group company also operates the Zara brand in India through a joint venture. (Source: IANS)
