On consolidated basis, the company’s net profit remained flat at Rs 363 crore in Q1FY20, while revenue grew 30 per cent at Rs 800 crore over the previous year quarter.
On June 18,the Board had approved raising up to Rs 1,550 crore through a mix of issue of shares to its promoter Tata Sons on a preferential basis, and other options to fund its expansion.
The company has been witnessing positive traction for its lifestyle retail concepts and consequently pursuing a substantially accelerated growth programme across the Westside, Zudio and Star formats. Given this, the fund raising proposal was approved by the Board to facilitate Trent's funding requirements for the growth plans.
At 01:24 pm, Trent
was up 6 per cent at Rs 422 on the BSE, as compared to a 1.2 per cent decline in the S&P BSE Sensex. A combined 5,74,553 shares have changed hands on the counter on the BSE and NSE so far. The stock hit an all-time high of Rs 465 on July 2, 2019.