Trident shares down by nearly 6% post Q4 results
- Trident Group announced its March quarter results on May 24, reporting a net profit of ₹129.7 crore, registering a decline of 28.4 per cent,
The towel-to-paper maker company Trident Group shares down by nearly 6 per cent on Thursday post announcing its March quarter earnings.
The shares of Trident was down by 5.67 per cent to ₹32.75 on BSE at the time of writing this copy. On a year-to-date basis, the stock has declined by nearly 4 per cent.
Trident Group announced its March quarter results on May 24, reporting a net profit of ₹129.7 crore, registering a decline of 28.4 per cent, compared to ₹181 crore in the corresponding quarter last year.
The towel-to-paper maker's revenue from operations for the January-March quarter stood at ₹1,573.2 crore, posting s drop of 15.9 per cent, compared to ₹1,869.8 crore in the year-ago period.
The company's board declared the first interim dividend of ₹0.36 per fully paid up equity share of ₹1 each (at 36 per cent per equity share) for the financial year 2023-24. ‘’June 1, 2023 is fixed as the ‘record date’ for taking record of the members of the company. The said interim dividend will be credited/dispatched to the shareholders as per the prescribed statutory timelines,'' according to a regulatory filing by Trident to the stock exchanges.
The board also recommended raising of funds for ₹500 crore by the issue of non-convertible debentures (NCDs), by way of public or private offering, in one or more tranches, upon the approval of shareholders.
Trident's earnings before interest, taxes, depreciation, and amortization (EBITDA) for the fourth quarter came in at ₹268.4 crore, registering a decline of 20.5 per cent, compared to ₹337.6 crore in the year-ago period.
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