Trident said it has secured patent for 'fitted sheet with improved gripping effect' by United States Patent Office.
The company said that the present invention provides for fitted sheet comprising of an elastic band and plurality of gripping elements secured to surface of the fitted sheet. The horizontal elastic strip is extendable laterally along the surface of the fitted sheet. The resultant force generated by the elastic band and the plurality of the gripping elements enhances gripping of the fitted sheet and prevents crumpling. The usage of the said product provides sleeping comfort to the user. The announcement was made during market hours today, 27 October 2020.
Trident's consolidated net profit tumbled 24.4% to Rs 105.69 crore in Q1 June 2020 from Rs 139.81 crore in Q1 June 2019. Net sales declined 12.4% in the September quarter to Rs 1,173.98 crore from Rs 1,340.72 crore in the corresponding period last year.
Shares of Trident was trading flat at Rs 7.82 on BSE. 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.
The scrip has jumped 156.39% from its 52-week low of Rs 3.05 hit on 24 March 2020.
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