Trident Ltd Q4 net profit drops 28 percent to Rs 130 crore

By

Maverick Martins

Published
May 25, 2023

Textiles major Trident Ltd witnessed a 28 percent slump in net profit to Rs 130 crore ($15.8 million) for the fourth quarter ended March 2023, as against Rs 181 crore in the year-ago period.

The company’s revenue from operations for the January-March quarter was down 16 percent at Rs 1,573 crore, as against Rs 1,869.8 crore posted during the same period last fiscal year.

For the financial year 2023, the company reported a total income of Rs 6,356 crore while the net profit for the year was Rs 441 crore.

Revenue from its yarn segment fell 34 percent, while the towel and bedsheets businesses witnessed a drop of three and four percent respectively.

During the quarter, Trident expanded production capacity of its bed sheets segment by 55,000 meters per day, towel segment by installing 42 looms and yam segment by installing 23,712 spindles.

The Punjab-based Trident is one of the largest players in the home textile space in India. It currently has around 400 points-of-sales across the country and plans to further expand its retail presence by doubling its point-of-sales next year.