Trident reports 92% drop in Q1 PAT
Trident's consolidated net profit tumbled 91.7% to Rs 10.11 crore in Q1 June 2020 from Rs 122.43 crore in Q1 June 2019.
Revenue from operation declined 46% in the June quarter to Rs 708.54 crore from Rs 1312.15 crore in the corresponding period last year.
The textiles segment revenue stood at Rs 586.30 crore (down 44.9% YoY) and paper & chemical business segment revenue came in at Rs 122.31 crore (down 50.7% YoY) during the quarter.
Profit before tax stood at Rs 13.24 crore in Q1 FY21, down by 92.8% from Rs 183.11 crore in Q1 FY20.
Current tax expense slumped 92.7% year-on-year (YoY) to Rs 45.4 crore in Q1 June 2020.
The scrip rose 2.42% to Rs 6.36 on Friday (17 July). Trident is a vertically integrated textile (yarn, bath & bed linen) and paper (wheat straw-based) manufacturer.
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First Published: Jul 18 2020 | 4:33 PM IST