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Trident Group reports Q2 FY21 income of ₹1175 cr

Oct '20
Pic: Trident Group
Pic: Trident Group
Trident Group, a vertically integrated textile (yarn, bath & bed linen) and paper manufacturer, reported 11.4 per cent decrease in its total income to ₹1174.6 crore during second quarter (Q2) for FY21 ended on September 30, 2020, compared to the income of ₹1325.6 in the same period last year. EBITDA for Q2 FY21 was ₹226.9 million (Q2 FY20: ₹259.0 million).
“The company has shown high resilience and bounced back strongly with a good performance despite challenging circumstances,” Rajinder Gupta, chairman at Trident Group, said in a press release.
Profit after tax for the quarter was ₹100.2 crore (₹137.1 crore). Company’s net debt dropped significantly to ₹947.6 crore (₹1614.5 crore). 
During Q2 FY21, textile segment revenue stood at ₹990.8 crore (₹1094.1 crore). While paper segment revenue stood at ₹180.9 crore (₹227.9 crore).
“While overall economic environment continues to be uncertain due to Covid-19 pandemic, we remain cautiously optimistic about the future,” Gupta said.

Fibre2Fashion News Desk (JL)

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