Trident stock has fallen after 3 days of consecutive gain. In a year, the stock is down 28.15% and fallen 4.23% this year. Trident stock has fallen after 3 days of consecutive gain. In a year, the stock is down 28.15% and fallen 4.23% this year. Trident stock has fallen after 3 days of consecutive gain. In a year, the stock is down 28.15% and fallen 4.23% this year. Shares of Trident Ltd fell 9% today after the company reported a 27.91 per cent decline in consolidated net profit to Rs 130.66 crore for the fourth quarter ended March 2023 against Rs 181.25 crore in the January-March period a year ago.
The stock slipped 8.84% to Rs 31.65 today against the previous close of Rs 34.72 on BSE. Market cap of the firm fell to Rs 16,684 crore. The stock opened with a loss of 5.85% at Rs 32.69 today.
Trident stock has fallen after 3 days of consecutive gain. In a year, the stock is down 28.15% and fallen 4.23% this year. It hit a 52-week low of Rs 25.10 on March 27, 2023 and a 52 week high of Rs 49.35 on May 31, 2022.
In terms of technicals, the relative strength index (RSI) of Trident stands at 64.9, signaling neither the stock is overbought nor oversold. The stock has a one-year beta of 1, indicating average volatility during the period. Trident stock is trading: higher than 20 day, 50 day and 100 day moving averages but lower than 5 day and 200 day moving averages
Revenue from operations fell 15.86 per cent to Rs 1,573.25 crore in Q4 against Rs 1,869.85 crore in the corresponding quarter last fiscal. Trident's total expenses declined 13.76 per cent to Rs 1,407.45 crore in the March quarter. Total income slipped 15.75 per cent to Rs 1,580.33 crore in Q4 FY23.
For the fiscal ended March 2023, net profit fell 47 per cent to Rs 441.61 crore against net profit of Rs 833.75 crore in FY22. Consolidated revenue from operations dipped 9.5 per cent to Rs 6,332.26 crore in FY23.
The company also declared its first interim dividend of Rs 0.36 per fully paid-up equity share of Rs 1 each for the financial year 2023-24.
Punjab-based Trident Ltd operates in the segments of home textiles, yarns, papers and energy.