Textile manufacturer Trident reported a 21 per cent decline in consolidated net profit during Q1, FY25 as company faced challenges in controlling costs amid rising cotton prices. 

A supplier of goods to online retailers such as Flipkart and Myntra, as well as outlets like Shoppers Stop and DMart, Trident has been negatively impacted by over a year of increasing cotton prices, its primary raw material.

Trident’s consolidated net profit declined to Rs. 73.7 crore during the quarter ended June 30, 2024 compared to Rs. 93.4 crore in the corresponding quarter of the previous year.

However, the company's operating revenue increased by 17 per cent to Rs. 17.43 billion during the quarter compared to corresponding quarter in the previous year. Its total expenses also increased by 20 per cent as raw materials costs rose by 18 per cent. Revenues from Trident’s main revenue contributor, the company’s core yarn segment, grew by 49 per cent during the quarter.