Trident shares jump 6% on smart Q2 numbers

Shares of textile firm Trident today surged 6 per cent after the company reported over two-fold increase in standalone net profit for the second quarter ended September 30.
After rising 8.57 per cent to Rs 47.50 in intra-day trade, shares of the company finally ended with a gain of 6.06 per cent at Rs 46.40.
At NSE, the stock climbed 5.7 per cent to settle at Rs 46.35.
In terms of volume, 9.77 lakh shares of the company changed hands at BSE and over 34 lakh shares were traded at NSE during the day.
Trident reported over two-fold increase in standalone net profit to Rs 50.97 crore for the second quarter ended September 30, mainly on account of reduced expenses.

The Trident Group had posted a net profit of Rs 20.98 crore for the corresponding period of previous fiscal, it said in a BSE filing yesterday.
However, standalone total income of the company stood at Rs 960.99 crore for the quarter under review as against Rs 965.70 crore for the same period year-ago.
Besides, the company's board has declared second interim dividend of Rs 0.30 per fully paid up equity share of Rs 10 each of the company for this fiscal.