Trident Ltd witnessed a 29 percent slump in net profit to Rs 90 crore ($11.2 million) for the April-June quarter, as against Rs 124 crore posted in the year-ago period.
The company’s total income for the quarter under review was down by 11 percent to Rs 1,550 crore, as against Rs 1,685 crore.
Revenue from the yarn segment, which makes 43 percent of the total revenue fell 37 percent while revenue from the towel and bedsheets businesses witnessed a 12 percent and 8 percent rise respectively.
During the quarter, Trident was granted patent for process of manufacturing a fabric with homogeneous pores by European Patent Office.
“Trident Limited will spend around Rs 20,900 million on capacity addition in yarn, towel, bedsheets & chemical business for which the projects are under different development and implementation stages,” the company said in a press release.
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 and plans to further expand its retail presence by doubling its point-of-sales next year.
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