Published
Nov 5, 2019
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Trident Limited Q2 net profit jumps 27 percent to Rs 140 crore

Published
Nov 5, 2019

Textiles firm Trident Ltd saw its net profit jump 27 percent to Rs 140 crore ($20 million) for the second quarter ended September 30, 2019, as against Rs 110 crore it had reported in the year-ago period.
 

Trident Limited Q2 net profit jumps 27 percent to Rs 140 crore


The company’s revenue was down by 5 percent for the quarter to Rs 1,347 crore as against Rs 1,412 crore it had reported in the corresponding quarter of the previous fiscal.
 
Commenting on the performance, Rajinder Gupta chairman at Trident Group in a statement said: “In spite of latest economic challenges, your Company has demonstrated high resilience by having increased capacity utilizations in the Bath & Bed Linen segment, generating industry leading margins in the paper business, improving cash flows and following prudent capital allocation policy by reducing debt.

"Going forward our focus remains on increasing utilization of the capacities, generating free cash flow and improving our return ratios. There might be some headwinds pertaining to yarn business and economic uncertainties, but overall we foresee buoyant times for our stakeholders as we strive to create value for them."

During the quarter, Trident Group also got into a partnership with Amazon to sell its products on the global marketplace.
 
Trident is looking to expand its retail presence in the country by doubling its point of sales by 2020. It currently has around 400 points of sales across the country.

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