Indian textile firm, Trident, has reported a significant drop in its third-quarter profit, with a nearly 25% decline. Despite an increase in consumer demand for home linen products during the festive season, the company was hit by rising expenses, affecting its bottom line.
Trident’s total expenses in the third quarter rose by 16%, thereby eating into its profits, which fell to ₹1.09 billion. The unexpected surge in expenses has posed challenges for the company, overshadowing the increased sales of home linen and textile products during the festive period.
While Trident experienced a boost in consumer spending during the festivities, the rise in expenses, including overhead costs and raw material prices, took a toll on profitability. This development highlights the challenges faced by textile companies in balancing rising demand with increasing operational costs.
Trident will now need to strategically address its expenses to regain and maximise profitability, despite the growing market potential for home linen and textile products.
