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Indian firm Trident's revenue rises to ₹1,823.28 cr in Q3 FY24

07 Feb '24

2 min read

Pic: Trident

Insights

Trident Limited's revenue rose to ₹1,823.28 crore in Q3 FY24, a jump from ₹1,618.40 crore in Q3 FY23.
PBT and net profit declined to ₹143.87 crore and ₹107.42 crore, respectively.
Yarn and bedsheets segments grew by 25 per cent and 36 per cent, while towels decreased by 8 per cent.
Profitability metrics like OPM and NPM also saw reductions.

Trident Limited, a diversified textile fabric manufacture based in India, has reported unaudited revenue of ₹1,823.28 crore for the third quarter of the fiscal 2024 (Q3 FY24), ending December 31, 2023, showing a solid improvement from the ₹1,618.40 crore reported in Q3 FY23. Total income also rose slightly to ₹1,837.04 crore in the quarter under review from ₹1,624.73 crore in the corresponding quarter of the previous year.

However, the profit before tax (PBT) decreased to ₹143.87 crore in Q3 FY24, down from ₹183.26 crore in Q3 FY23. The net profit also witnessed a decline, falling to ₹107.42 crore in the recent quarter from ₹142.04 crore in the same period the previous year. This indicates a reduction in profitability, which is further reflected in the earnings per share (EPS), which decreased from ₹0.28 in Q3 FY23 to ₹0.21 in Q3 FY24, the company said in a press release.

In terms of profitability metrics, the operating profit margin (OPM) stood at 14.98 per cent for the quarter, which is a decrease from the 17.24 per cent reported in the previous year's quarter. Similarly, the net profit margin (NPM) also saw a reduction, coming in at 5.89 per cent in Q3 FY24 compared to 8.78 per cent in Q3 FY23.

The company reported a roughly 25 per cent increase in revenue from its yarn segment and a 36 per cent rise in its bedsheets division, while revenue from its towel segment saw an 8 per cent decrease.

Fibre2Fashion News Desk (DP)

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