Trident profit tumbles despite festive season sales boom

Indian textile giant Trident witnessed a sharp 25 per cent plunge in its third-quarter profit, despite a 12 per cent jump in revenue driven by festive season sales. This profit drop is attributed to a 16 per cent increase in overall expenses, with raw material costs rising 9 per cent.

While yarn and bedsheet sales increased 25 per cent and 36 per cent respectively, the towels division saw an 8 per cent decline. Despite strong sales across key segments like yarn, bedsheets, and home linen, rising expenses ate into profits, leading to a drop to Rs 1.09 billion.

This news sent shockwaves through the market, with Trident's shares closing lower after the results announcement. The company, known for supplying products to major retailers like Shoppers Stop, D-Mart, and Walmart, will need to navigate rising costs effectively to maintain profitability in the future.