Mumbai, Jan. 6 -- Standalone revenue from the sale of products, excluding GST, rose 17% YoY to Rs 5,220 crore in Q3 FY26. This compares with Rs 4,466 crore in the year-ago quarter. For the nine months ended December 2025, revenue increased 18% YoY to Rs 14,604 crore from Rs 12,368 crore.

However, investors focused on the growth trajectory. Revenue growth was flat sequentially and matched the 17% YoY growth reported in Q2 FY26. This was slower than the growth seen in Q3 FY25, Q4 FY25 and Q1 FY26, raising concerns over moderation.

Store expansion remained strong. As of 31 December 2025, Trent operated 278 Westside stores and 854 Zudio stores, including four in the UAE. It also ran 32 stores across other lifestyle concepts.

During Q3 FY26...