Trident rose 1.84% to Rs 14.98 after consolidated net profit soared 200.42% to Rs 112.15 crore on 20.39% increase in revenue from operations to Rs 1,303.15 crore in Q3 December 2020 over Q3 December 2019.
Consolidated profit before tax (PBT) surged 251.21% to Rs 149.09 crore in Q3 December 2020 over Q3 December 2019. Current tax expense for the quarter jumped 222.58% to Rs 46.42 crore as against Rs 14.39 crore in Q3 December 2019. The Q3 result was declared during trading hours today, 18 January 2021.
Meanwhile, the company's board in its meeting held on 18 January 2021 approved diversifying into production of 'detergent powder'. The proposed capacity of the project is 10 MT/day. The project is expected to start commercial operations from 1 March 2021. The project requires investment worth Rs 33 lakh, which will be met through internal accrual. The project shall help to expand the chemical business of the company and shall further increase the market presence in the chemical segment.
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.
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