Trent share price falls 8% despite 47% net profit in Q2 earnings. Here’s why
Shares of Trent Ltd. saw a sharp decline of 8% in Thursday’s trading session despite reporting a profit for the second quarter of the financial year. By 1:33 pm, the stock was down 7.49%, trading at Rs 6,432.55 on the Bombay Stock Exchange (BSE).
The company’s shares have fallen more than 13% in the past month and nearly 9% over the last five trading sessions. However, on a year-to-date basis, Trent shares are still up by 114%, and they have delivered an impressive 165% return over the past year.
The Tata Group’s Trent, which recently joined the Nifty 50 index, announced its Q2 results on Thursday. While revenue rose 39% year-on-year to Rs 4,157 crore from Rs 2,982 crore in the same quarter last year, the results fell slightly short…
