Trident Q2 results: profit nearly doubles to Rs 175.5 crore even as revenue falls 3.8%

Trident Q2 results: the textile maker’s consolidated net profit after tax rose 93% to Rs 175.6 crore in the September quarter (Q2 FY27) from Rs 90.9 crore a year earlier, even though revenue from operations fell 3.8% to Rs 1,719.5 crore from Rs 1,787.2 crore. The company filed the results with NSE on 2 November 2026, and the stock reacted on 3 November.

Trident Q2 results: key numbers

Measure (consolidated, Rs crore)	Q2 FY27	Q2 FY26	Change
Revenue from operations	1,719.5	1,787.2	-3.8%
Total expenses	1,509.7	1,680.7	-10.2%
Profit before tax	232.5	124.0	+87.6%
Net profit after tax	175.6	90.9	+93.1%

Compared with the June quarter, net profit rose about 11% from Rs 158.1 crore, while revenue was 3.8% lower than Rs 1,786.8 crore.

Why profit rose while revenue fell

The filing does not give management’s explanation, but the cost lines show what changed. Total expenses fell 10.2%, much faster than revenue. Depreciation dropped to Rs 71.5 crore from Rs 82.9 crore, and “other expenses” eased to Rs 378.2 crore from Rs 388.0 crore. Raw-material consumption was slightly higher at Rs 935.8 crore, while inventory build-up of Rs 127.4 crore offset part of the cost, against a draw-down a year earlier.

CNBC-TV18 reported that EBITDA (operating profit before interest, tax, depreciation and amortisation) rose 46.5% to Rs 313.7 crore, with the margin up to 18% from 12%. By segment, it reported that yarn revenue rose to Rs 1,019 crore with segment result of Rs 191.2 crore, against Rs 47.2 crore a year ago. Towel revenue fell to Rs 570.8 crore from Rs 723.5 crore, and its segment result dropped to Rs 32.6 crore from Rs 78.2 crore.

Rs 4,650 crore expansion plan

As reported by CNBC-TV18, the board also gave in-principle approval to a Rs 4,650 crore expansion and modernisation programme funded by internal accruals and debt. The largest piece, Rs 1,660 crore, is a new yarn plant at Dhar, Madhya Pradesh, with 199,680 spindles, expected by 30 September 2029. A further Rs 1,022 crore goes to the Budhni yarn plant, and Rs 1,018 crore to add 336 looms in sheeting.

CNBC-TV18 reported that the shares rose as much as 13.4% on 3 November.

What to watch next

In our view, the key question is whether yarn margins hold while towel revenue is falling, and how the new debt affects finance costs, which already rose to Rs 32.5 crore from Rs 24.9 crore. More quarterly numbers are in our results news.