Trident Q3 Results Jumped by 88% to Rs. 211 crores
Trident Q3 Results: World’s finest home textile manufacturer, Trident Limited reported its Q3 results. The firm reported a consolidated net profit jumped to 88% of Rs. 211 crores. As of the reports, it posted a consolidated profit after tax of Rs. 112.15 crores over the year-ago period.
Further, the total consolidated income which remains under review stood at Rs. 1,983.65 crores as compared to the year-ago result of Rs. 1,308.24 crores. Moreover, the firm’s total expenses stood at Rs. 1,673.88 crores.
According to the source, total revenue from operations raised by 17% in Q3 FY22 as compared to the previous quarter results. At the same time, net profit decreased by over 10% in Q3 FY22.
As of the financial statement, in Q3 FY22, Trident’s consolidated profit before tax dropped by 9.68% but it raised by 90% on a YoY basis to Rs. 283.60 crores. According to the company’s announcement, its subsidiary Trident Global Corp sold 2,81,850 (9%), Rs 600 each, Compulsorily Convertible Debentures (CCDs) to the promoter & promoter group for a total of Rs 16.91 crore.
in 1990, Mr. Rajinder Gupta founded this textile and paper manufacturing company. Indian textile and apparel company remains the largest terry towel and wheat straw-based paper manufacturer in the world. Further, the firm manages two major businesses in Punjab as Textiles and Paper manufacturing.
Today, shares of Trident Ltd. dropped by 4.95 percent to Rs. 61.40. While it hit a day high of Rs. 61.90 and low of Rs. 61.40 during the session. Moreover, the stock quoted a 52-week high price of Rs. 70.35 and a low of Rs. 12.70. As of today, the market cap of Trident Limited stood at Rs. 31,289 crores.