Trident Ltd today reported that its net profit has declined by 12.26 per cent to Rs 14.23 crore for the October-December 2012 quarter.

The company's net profit stood at Rs 16.22 crore in the year-ago period, it said in a statement.

Its revenues during the third quarter of 2012-13 grew by 27.26 per cent to Rs 828.39 crore from Rs 650.93 crore in the year-ago period.

"During the quarter, the company achieved a healthy growth in profits compared to the immediate last quarter. It was possible as a result of an all-round improvement in operations including various cost compression measures taken. The results would have been still better, but for subdued market conditions," Trident Ltd CFO Arun Goyal.

The company's profit stood at Rs 1.42 crore in the quarter eneded September 2012.

Trident Ltd is the flagship company of USD 1 billion Trident Group and manufacturers terry towels, paper, yarn and chemicals.

Revenues from yarn division grew 69.55 per cent to Rs 431.77 crore in the reported quarter.

Terry towel contributed Rs 307.26 crore to the total revenues, while revenues from Paper & chemicals was Rs 177.93 crore.