Shares of Trident opened bearish on July 28 after the company reported a decline in net profit by 27% YoY to Rs 90 crore.

The operating revenue for the company also fell by 11.6% YoY to Rs 1,478 crore for the quarter under review.

The EBITDA also declined by 7.5% YoY to Rs 239 crore for the June quarter under review.

Trident’s principal business is the textile segment, which makes up 82% of the total revenue. For the quarter under review, the textile segment fell by 10% to Rs 1,207 crore for the June Quarter.

In its Investor presentation, Trident said, “We’re increasing capacity utilisation of plants through digitisation of processes and adopting lean practices for improving our margins.”

The company mentioned developing new and innovative products by leveraging consumer sentiments and behaviour to earn a premium.

Trident owns brands like Dusk and Dawn, Aroma, Nectarsoft, and Everyday.

The company supplies customers like IKEA, Hometown, Amazon, D-MART, and others.

At 2:30 pm, the shares of Trident were trading at Rs 32.05 or 3.17% below its previous close on NSE.