Trident reported an 88% jump in consolidated net profit to Rs 211 crore on an 84% rise in revenue from operations to Rs 1,980 crore in Q3 FY22 over Q3 FY21.
On a sequential basis, net profit fell by 10% while revenue from operations grew by 17% in Q3 FY22 over Q2 FY22. Trident's net profit margin stood at 14.52% as of 31 December 2021 as against 11.55% as of 31 December 2020.Consolidated profit before tax fell by 9.68% on a sequential basis but jumped by 90% on a year-on-year basis to Rs 283.6 crore in Q3 FY22. The company's operating margin stood at 24.6% as of 31 December 2021 as compared to 28.79% on 30 September 2021 and 21.9% on 31 December 2020.
Meanwhile the company announced that its wholly owned subsidiary Trident Global Corp issued 2,81,850, 9% Compulsorily Convertible Debentures (CCDs) having Face Value of Rs 600 each aggregating to Rs 16.91 crore to the promoter & promoter group.
Trident is a vertically integrated textile (yarn, bath & bed linen) and paper (wheat straw-based) manufacturer and is one of the largest players in home textile space in India.
Shares of Trident were locked in a lower circuit of 5% at Rs 64.60 on Tuesday.
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