Trent shares drop ~8% after revenue growth stays flat even during festive months

Zudio promoter Trent has projected a flat revenue growth in October-December, despite a festive season during the quarter.

Shares of Trent Ltd. plunged after the Tata Group-controlled apparel retailer projected its revenue to stay flat in what was a festive quarter.

A Zudio store. (HT)

Trent's share price fell as much as 8.32% to an intraday low of ₹4,060.65 on the BSE to emerge as the top loser on the benchmark Nifty 50 index, which itself was down 0.2%.

The operator of Zudio and Westside stores said on Monday its standalone revenue grew 17% year-on-year in the three months to December to 52.20 billion rupees ($579.3 million). Its revenue had also risen 17% in the previous three months.

The stock was the top percentage loser on the benchmark Nifty 50 index, which was down about 0.2% on the day.