Trident Group shares fell nearly 6% on Thursday after the firm announced its March quarterly results.
Trident shares were fallen 5.67% to 32.75 on the BSE, the stock has down about 4 percent.
Trident Group reported its March quarter results on May 24, showing a net profit of 129.7 crores, a decline of 28.4 percent from a similar quarter last year.
The towel to paper maker's revenues from operation for the January-March quarter was 1,573.2 crore, a 15.9 percent decrease from the previous year's figure of 1,869.8 crore.
The board of directors declared the initial interim dividend of 0.36 cents per fully paid-up share of one cent at 36% per equity share for the financial year 2023-24. June 1, 2023, is set as your record date' for recording the company's members. The interim dividend will be credited/distributed to shareholders by the prescribed statutory dates, Trident stated in a regulatory statement to the stock exchanges.
The board also suggested raising capital of Rs 500 crore through a public or private issuance of non-convertible debentures (NCDs), in one or more tranches, subject to shareholder approval.
Trident's profits before interest, taxes, depreciation, and amortization (EBITDA) for the fourth quarter were 268.4 crores, a 20.5 percent decrease from 337.6 crores the previous year
