Shares of Trident Ltd. fell the most in a day in over six months after it reported a decline in its fourth-quarter revenue and profit.
The company's net profit declined 27.91% year-on-year to Rs 130.66 crore in the quarter ended March, according to an exchange filing.
Trident Q4 FY23 (Consolidated, YoY)
Revenues down 15.86% at Rs 1,573.25 crore.
Ebitda down 20.48% at Rs 268.52 crore.
Ebitda margin at 17.07% vs. 18.09%
Net profit down 27.91% at Rs 130.66 crore.
The company declared its first interim dividend of Rs 0.36 per share for fiscal 2024, with June 1 as the record date.
Shares of Trident fell 5.89% to Rs 32.73 apiece, compared to slim gains in the NSE Nifty 50 as of 9:52 a.m. The stock fell 8.92% intraday, the most in over six months since Nov. 14, 2022.
The average traded volume so far in the day stood at 3.2 times its monthly average.
Of the two analysts tracking the company, both maintained a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies a potential upside of 21.9%.
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