Trident Q3 net profit down 31 percent to Rs 144 crore

By

Maverick Martins

Published
Feb 6, 2023

Textiles major Trident Ltd witnessed a 31 percent slump in its net profit to Rs 144 crore ($17.5 million) for the third quarter ended December 2022, as against a net profit of Rs 211 crore in the year-ago period.

The company’s revenue for the quarter was down 17 percent to Rs 1,648 crore, as against Rs 1,983 crore reported in the corresponding period of the previous fiscal year.

“The company has implemented business wise Federal Structure, which enables entrepreneurial, agile, and empowered leadership. Further, Textile business has been bifurcated into 3 individual segments – yarn, towel & bedsheets which has enabled respective business to focus on their respective strengths and efficient optimisation of resources,” Trident Ltd said in a statement.

“Trident Limited, earlier announced capex worth Rs 2,270 crore for capacity addition in yarn, towel, and bedsheets business for which the projects are under different development and implementation stage,”  it added.

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.