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Trident, the textile-to-paper manufacturer has reported their quarterly net profit at Rs. 109.14 crores for the September-end quarter of the current fiscal year, registering a strong 114.43% rise as compared to Rs. 50.90 crores of net profit during the corresponding quarter of the previous fiscal year.
Total Revenue for the quarter under review stood at Rs 1,391.5 crores registering a 24.2 per cent increase as against Rs. 1,120.5 during the previous year same quarter period. The company stated that the growth was driven by strong operational growth despite big forex loss.
According to the company’s BSE filings, the textile business posted a growth rate of 25 per cent whereas the paper & chemicals reported a 22 per cent growth Year-on-Year basis.
Trident’s EBITDA (earnings before interest, tax, depreciation and amortisation) surged by 50.1 per cent year-on-year basis to Rs. 261.1 crores and margin expanded 330 basis points to 18.8 per cent during the July-September quarter of FY18-19, on the back of lower finance and depreciation cost.
The company reported forex loss for the quarter under review at Rs. 55.8 crores against the forex gain of Rs. 0.5 crore in the corresponding period of the previous fiscal. Trident EPS increased to Rs. 2.14 in the current September-end quarter as against Rs. 1.00 in the last year same period.
