Trident Ltd’s Q3 net profit down 25 percent to Rs 109 crore | Maqvi News

Textiles firm Trident Ltd reported a 25 percent decline in net profit to Rs 109 crore ($13.6 million) for the quarter ended December 2023, as against Rs 144 crore in the year-ago period.

The company’s total income for the quarter rose by 12 percent to Rs 1,849 crore, as against to Rs1,648 crore in the corresponding quarter of the previous year.

Trident’s majority revenue was generated by its yarn, bedsheets, and towels segment which made up 86 percent of its total revenue.

The company attributed the drop in profit to higher expenses due to the rising costs of raw material like cotton.

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.