 "Trident hits 52-week high post Q2 results")
Trident hit a 52-week high of Rs 63.40, up 6% on BSE in intra-day trade, after the company reported a 59% growth in net profit at Rs 80.07 crore for the quarter ended September 30, 2016 (Q2FY17). The company engaged in textiles business had posted a profit of Rs 50.29 crore in the same quarter year ago.
Net sales during the quarter under review grew 30% to Rs 1,148 crore against Rs 882 crore in the corresponding quarter of previous fiscal.
EBITDA (earnings before interest, taxes, depreciation, and amortization) margin improved to 20.5% from 19.92% in previous year quarter.
Trident said the board approved issuance of commercial papers upto Rs 200 crore and authorised financial management committee to negotiate and finalise the terms thereof and issue commercial papers in one or more tranches.
At 12:49 pm, the stock was up 2.2% at Rs 61.35, against 0.40% decline in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled with a combined 12.16 million shares changed hands on the BSE and NSE so far.
Net sales during the quarter under review grew 30% to Rs 1,148 crore against Rs 882 crore in the corresponding quarter of previous fiscal.
EBITDA (earnings before interest, taxes, depreciation, and amortization) margin improved to 20.5% from 19.92% in previous year quarter.
Trident said the board approved issuance of commercial papers upto Rs 200 crore and authorised financial management committee to negotiate and finalise the terms thereof and issue commercial papers in one or more tranches.
At 12:49 pm, the stock was up 2.2% at Rs 61.35, against 0.40% decline in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled with a combined 12.16 million shares changed hands on the BSE and NSE so far.
