Trident Q1 PAT slides 37% YoY to Rs 129 cr

On consolidated basis, Trident's net profit dropped 37.45% to Rs 129.35 crore in Q1 FY23 as against Rs 206.81 crore recorded in Q1 FY22.

Revenue from operations jumped 13.32% to Rs 1,679.9 crore in the quarter ended June 2022 from Rs 1,482.38 crore reported in the corresponding quarter previous year.

The company's profit before tax stood at Rs 172.39 crore in the first quarter, down 37.22% as compared to Rs 274.6 crore posted in the same period a year ago.

Total expenses surged 24.94% YoY to Rs 1,512.63 crore in Q1 FY23. Cost of raw materials consumed soared 47.32% to Rs 981.47 crore while employee benefits expenses declined 7.97% to Rs 161.55 crore in Q1 FY23 over Q1 FY22.

The company's revenue from Textiles division stood at Rs 1,356.46 crore (up 5.36% YoY) and revenue from Paper & chemicals division was at Rs 323.55 crore (up 65.91%) in Q1 FY23.

On the margins front, the company's operating margin declined to 18.96% in Q1 FY23 as against 29.37% reported in Q1 FY22. Net profit margin stood at 10.24% in Q1 FY23 as compared to 18.52% recorded in Q1 FY22.

Meanwhile, the company's board had declared 1st interim dividend of Rs 0.36 per fully paid up equity share for the financial year 2022-23. The said Interim dividend will be credited/ dispatched to the shareholders by Wednesday, 7 September 2022 i.e within 30 days from the date of declaration.

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 down 1.24% to close at Rs 39.75 on Monday, 8 August 2022.

The domestic equity market is closed today (9 August 2022) on account of Muharram.

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