(Reuters) -Indian textiles firm Trident reported a nearly 90% rise in first-quarter profit on Thursday, as lower raw material and employee costs offset a decline in sales.
The company reported a consolidated net profit of 1.4 billion rupees ($16.21 million) for the three months ended June 30, compared to 737 million rupees a year ago.
A marginal 2% decline in revenue for Trident, which supplies home textiles to major global retailers such as Walmart and Target, was overshadowed by a 7% decline in expenses.
($1 = 86.3930 Indian rupees)
(Reporting by Ananta Agarwal in Bengaluru; Editing by Eileen Soreng)
