Zudio, Westside parent co’s Q3 profit jumps 37% QoQ; revenue up 10%

Trent Ltd. reported a steady performance for the quarter ended December 31, 2025, with the Tata Group retailer posting double-digit growth in revenue and a sharp sequential improvement in profitability, even as Chairman Noel N Tata said customer sentiment is “gradually improving” and the company remains confident about the medium-term outlook.

As per Trent’s unaudited consolidated financial results, revenue from operations rose 10.1% year-on-year to Rs 5,345.06 crore in Q3 FY26, compared to Rs 4,656.56 crore in Q3 FY25. On a quarter-on-quarter basis, revenue increased 10.9% from Rs 4,817.68 crore in Q2 FY26.

Total income for the quarter came in at Rs 5,363.85 crore, up 13.9% from Rs 4,710.20 crore a year ago and higher by 10.7% compared to Rs 4,845.23 crore in the previous quarter.

Profitability strengthened meaningfully during the quarter. Profit before tax (PBT) rose 4.7% year-on-year to Rs 675.94 crore from Rs 645.79 crore in Q3 FY25, while it surged 41.7% quarter-on-quarter from Rs 476.98 crore in Q2 FY26.

Net profit for the quarter stood at Rs 510.11 crore, up 2.7% year-on-year from Rs 496.54 crore, and higher by 36.6% sequentially compared to Rs 373.42 crore in the preceding quarter.

Trent’s profit before exceptional item and tax came in at Rs 690.18 crore, rising 11.4% year-on-year from Rs 619.56 crore and jumping 44.4% quarter-on-quarter from Rs 478.08 crore. The company reported an exceptional item expense of Rs 26.11 crore in Q3 FY26.

Commenting on the quarter, Noel N Tata, Chairman, Trent Limited, said, “On a higher base, our fashion business registered category leading growth during the quarter. The customer sentiment is gradually improving and our business outlook for the medium term continues to remain positive.” He added that the company remains focused on portfolio growth, elevating products and enhancing store experience, while building a differentiated consumer proposition across diverse markets.

Tata also highlighted the company’s direct-to-customer ambition, saying it remains committed to building a “sizable pure play direct-to-customer business across customer segments” given the market opportunity.

In its Star business, Tata said Trent continues to apply its playbook and the contribution of its own brands is now trending over 74% of revenues. However, he acknowledged that Star’s expansion programme has been slower than expected. “We recognize that the expansion program for Star stores has been slower vis-à-vis our expectations and we are looking to accelerate this agenda in the coming periods,” he said, adding that while the food opportunity is exciting, it is intensely competitive and the company is calibrating its store portfolio to be more future-ready.

On the cost side, total expenses rose 14.3% year-on-year to Rs 4,673.67 crore in Q3 FY26 from Rs 4,090.64 crore in Q3 FY25. Sequentially, expenses increased 7.0% from Rs 4,367.15 crore in Q2 FY26.

For the nine months ended December 31, 2025, Trent’s revenue from operations grew 16.5% to Rs 15,046.22 crore from Rs 12,917.67 crore in the year-ago period. Profit before tax rose 6.4% to Rs 1,717.61 crore from Rs 1,613.99 crore, while net profit increased 7.0% to Rs 1,308.23 crore from Rs 1,222.81 crore.