Tata -owned retailer Trent Ltd, reported a 11 per cent rise in net profit on decent sales growth in the September quarter, led by new stores.

The company also announced reducing its stake in joint venture, Inditex Trent Retail India, which operates Zara stores in India. Inditex Trent said it was buying back 94,900 shares from its shareholders through the tender offer route.

Trent said it has “considered and approved tendering of 94,900 Equity Shares” held by it in Inditex Trent.

Trent’s stake in the JV is down to 34.94 per cent from 49 per cent last year.

Trent reported a consolidated net profit of ₹377 crore on revenue of ₹4818 crore. “The consumer sentiment in the second quarter was relatively muted, and we also witnessed headwinds given unseasonal rains,” the company said.

During

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