Trident shares down 9% after Q4 profit declines 28% YoY
Trident, a textile fabric manufacturer, reported a 28.4% YoY drop in Q4FY23 net profit, at Rs 129.7 crore. Revenue from operations declined 15.9% YoY to Rs 1,573.2 crore due to lower revenue across its yarn, towel and bedsheets divisions. Trident’s paper and chemicals unit, however, grew by 22%. Its EBITDA for Q4FY23 slipped 20.5% YoY to Rs 268.4 crore. The company’s share price fell 9% to Rs 31.6 on the BSE.
