Tata Group retailer Trent reported a 25 per cent year-on-year increase in consolidated net profit to ₹468 crore in the July–September 2026 quarter, supported by expansion of its Zudio fashion chain, strong growth in Star grocery revenues, and improved operating margins. The results coincided with the announcement that Noel N Tata would step down as chairman after nearly three decades of association with the company.
Consolidated revenue from operations rose 22 per cent to ₹5,873 crore from approximately ₹4,814 crore in the corresponding quarter last year.
On a standalone basis, net profit increased 9 per cent to ₹490 crore from approximately ₹451 crore, while revenue from operations climbed 23 per cent to ₹5,788 crore from ₹4,724 crore.
Standalone operating EBITDA increased 37 per cent to ₹791 crore from approximately ₹577 crore, while operating EBIT margin improved to 11.6 per cent from 10.5 per cent. The slower growth in standalone profit partly reflected a ₹96-crore pre-tax gain from asset sales in the year-ago quarter.
Noel Tata will step down as Chairman and Director of Trent with effect from the close of business on November 11, in accordance with the Tata Group’s governance guidelines, the company said in a regulatory filing.
Tata, who has been associated with Trent since 1997 and helped transform it into one of India’s leading fashion retailers, will become chairman emeritus from November 12.
Bahram Vakil will succeed him as Chairman from November 12. Trent has also appointed Rajiv Dube as an additional Non-Executive, Non-Independent Director from October 30, subject to shareholder approval.
Reflecting on the company’s performance, Tata said, “Our brands experienced solid traction during the quarter. It was encouraging to witness a more robust consumer sentiment despite the relatively inflationary backdrop.”
In his concluding remarks as chairman, Tata expressed confidence in Trent’s prospects in fashion, grocery and international markets.
Trent’s investor presentation showed that like-for-like fashion sales grew in the mid-single digits, indicating that network expansion remained an important driver of revenue growth.
Zudio’s store network expanded 23.9 per cent to 999 outlets from 806 a year earlier, while Westside grew 19.2 per cent to 311 stores from 261.
During the quarter, Trent opened 19 Zudio and 10 Westside stores. Approximately 85 per cent of new Zudio outlets were in peripheral growth markets or Tier 2 cities and beyond.
“The compelling reception we are witnessing gives us the conviction to double down into more hinterlands,” Tata said.
Star grocery revenues increased 21.8 per cent to ₹1,006 crore from ₹826 crore a year earlier. Own brands contributed 74 per cent of sales, up from 73 per cent, while the network reached 87 stores across 13 cities.
Star’s revenues are excluded from Trent’s consolidated turnover under equity-method accounting, although its proportionate profitability is recognised.
Trent said in its investor presentation that it would continue investing internal accruals in store expansion, refurbishment, warehousing, supply chains and automation, without specifying a capital expenditure amount.
Beauty and personal care, innerwear and footwear contributed over 21 per cent of revenues, while Westside’s online sales grew 20 per cent during the first half.
The company expects its annual store-opening trajectory to remain broadly consistent, although inflation, supply-chain disruptions and competition continue to pose challenges.
Published on October 29, 2026
