Trident gains on securing patent in Europe

Trident rose 2.92% to Rs 14.8 after the company said it secured a patent for 'Fabric and Method of Manufacturing Fabric' by European Patent office.

Trident said the present invention comprises a method of producing a fabric by subjecting the fabric to a special treatment, thereby obtaining increased air space in the resultant fabric.

This will help the company to deliver its special soft towels without usage of any chemical based fibers enabling it to save environment and at the same time to deliver its soft luxury towels in European Market, Trident said in a press release.

The grant of the patent provides Trident with further recognition of the quality of the innovation being carried out.

Punjab-based Trident is a vertically integrated textile (yarn, bath & bed linen) and paper (wheat straw-based) manufacturer and is one of the largest players in home textile space in India.

The company's consolidated net profit dropped 24.4% to Rs 105.69 crore on a 12.4% decline in net sales to Rs 1,173.98 crore in Q2 September 2020 over Q2 September 2019.

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