The Tata Group, a Tata Group company among the country’s oldest business houses, has announced its December quarter results. According to the results announced on Thursday, the retail legend has registered a strong profit. In Q3, the company’s consolidated net profit increased by 33.94 per cent to Rs 496.54 crore on an annual basis. But despite the excellent torrential results, the company’s share slipped up to 8.19 percent.
The quarterly results of the tension were spectacular
Announcing the results of its December quarter, Tata Trent said in the stock exchange filing that its consolidated net profit has increased to Rs 496.54 crore as compared to Rs 370.64 crore in the same period last year. Along with this, the company’s renewy also increased by 36 percent to Rs 4,803 crore during this period, which was Rs 3,521 crore in the same quarter of the previous year. Apart from this, the company said that the margin profile of its Westseide and Zudio has been stable. Talking about the total operating EBIT margin, it has been 13.1 percent as against 13.3 percent in the quarter of a year ago. But even the brilliant results of the company did not like the market and it was shattered.
Suddenly decline in share increased
The special thing is that the Treat Share was already trading on the red mark amidst the decline in the stock market, but when the company announced its quarterly results and stated the profit figure, the TATA of TATA with the impact of the decline in the market. The stock of this company did not recover, but it continued to decline further. Till the news was written, at 2.50 pm, this stock was trading at 8.19 percent to 5255.15 level. With this, the market cap of the company also fell to Rs 1.88 lakh crore.
Noel Tata said on the results
Trent Limited Chairman Noel N Tata said that his company is on track to increase its reach and improve the quality of store portfolio. Trent and Westnets in the company’s fashion portfolio operate more than 850 fashion stores in the country. Now the presence of Trent is in 201 cities of the country. Looking at the store portfolio by 31 December, 238 Westnets, 635 Judio and other 34 lifestyle stores were included.
Not only the result, good news from here
Not only the Tata firm Trent Limited has declared the fantastic quarterly results, but on the other hand foreign brokerage Goldman Sachs has expressed confidence in the trick share. On Wednesday, Brokerage issued a note, increasing the target price of Trent Share to Rs 8,300 and has retained its BUY rating and advised investors to buy it. Even after double good news, the share of the company has been seen collapsing.
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