Trident Ltd’s Q1 net profit down 21 percent to Rs 74 crore

Textiles firm Trident Ltd reported a 21 percent decline in net profit to Rs 74 crore ($8.9 million) for the first quarter ended June 30, as against Rs 93 crore in the year-ago quarter.

The company’s revenue for the quarter rose by 17 percent to Rs 1,743 crore, as against Rs 1,494 crore in the corresponding quarter of the previous fiscal year.

The yarn, towels and bedsheets segments were the major contributors to the company’s revenue growth for the quarter.

Trident attributed to the drop in profit for the quarter to the rising cost of its key raw material 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.