Indian retailer Trent Ltd has reported strong growth in revenue and profits for the third quarter and nine months ended 31 December 2025, driven by continued expansion of its fashion business and stable operating margins.
In the October–December quarter (Q3 FY26), Trent’s standalone revenue from operations rose 16% year-on-year to ₹5,259 crore, while operating EBITDA increased 23% to ₹822 crore. Profit after tax, adjusted for the impact of the new labour code, grew sharply by 41% to ₹660 crore. For the nine-month period, revenue climbed 18% to ₹14,765 crore, with EBITDA up 23% and adjusted profit rising 24%.
The company attributed its performance to steady demand and disciplined execution across sourcing, pricing and inventory management. Operating EBIT margin for the quarter improved to 13.8%, compared with 13.2% a year earlier, while gross margins across its key brands — Westside and Zudio — remained stable.
Trent continued to expand its physical presence during the quarter, opening 17 Westside and 48 Zudio stores, including its first Zudio outlet in the UAE. As of December 2025, the company operated more than 1,100 large-format fashion stores across 274 cities, covering over 15 million square feet of retail space.
On a consolidated basis, revenue rose 15% year-on-year to ₹5,345 crore in Q3, while EBITDA increased 20%. Adjusted profit after tax grew more modestly at 7%, reflecting the performance of non-fashion businesses.
The consolidated numbers exclude revenues from the Trent Hypermarket venture, though its share of profits is accounted for under the equity method. Trent’s Star grocery business operated 79 stores at the end of December, following store additions and closures during the period.
Chairman Noel N Tata said improving consumer sentiment and portfolio expansion continued to support growth. He added that while the food retail segment remains highly competitive, Trent remains focused on strengthening its store network and building a resilient, customer-centric business for the long term.
