India's Trident falls 8% after Q4 profit plunges

Trident

25/05/2023 05:22

** Shares of Trident Ltd  TRIE.NS  fall as much as 7.6% to
32.10 rupees, steepest pct loss since Nov, 2022
    ** Textile and paper manufacturer posts 28% slump in
March-qtr net profit to 1.30 bln rupees ($15.90 mln) as
inflation hit demand  urn:newsml:reuters.com:*:nL4N37E2WH
    ** Rev from ops at 15.73 bln rupees, down ~16%
    ** About 7.7 mln shares change hands by 9:38 a.m. IST, vs
30-day avg of 11.3 mln shares - Refinitiv Data
    ** Stock up ~1.5% YTD as of last close

($1 = 81.7800 Indian rupees)

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))