TRIDENT Announces Quarterly Results (1QFY22); Net Profit Up 1976.4%

Mon, 16 Aug

TRIDENT has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

TRIDENT Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-20*	3 Mar-21*	3 Jun-21*	QoQ Change	YoY Change
Net Sales	Rs m	7,085	13,450	14,824	10.2%	109.2%
Other income	Rs m	55	107	91	-14.9%	64.9%
Turnover	Rs m	7,140	13,556	14,915	10.0%	108.9%
Expenses	Rs m	5,954	11,162	11,044	-1.1%	85.5%
Gross profit	Rs m	1,132	1,983	3,780	90.6%	234.0%
Depreciation	Rs m	825	881	875	-0.7%	6.0%
Interest	Rs m	231	235	250	6.6%	8.3%
Profit before tax	Rs m	131	974	2,746	181.9%	1997.8%
Tax	Rs m	31	210	678	223.6%	2065.8%
Profit after tax	Rs m	100	765	2,068	170.5%	1976.4%
Gross profit margin	%	16.0	14.7	25.5
Effective tax rate	%	23.9	21.5	24.7
Net profit margin	%	1.4	5.6	13.9

Year-on-Year Performance:

• The company's operating income during the quarter grew 109.2% on a year-on-year (YoY) basis. The expenses were up by 85.5% YoY during the same period.
• The company's operating profit increased by 234.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.5% in 1QFY22 as against 16.0% in 1QFY21.
• Depreciation charges increased by 6.0% and finance costs increased by 8.3% YoY, respectively.
• Other income increased by 64.9% YoY during the quarter.
• Net profit for the quarter increased by 1976.4% YoY. Net profit margins during the quarter increased from 1.4% in 1QFY21 to 13.9% in 1QFY22.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 10.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.1% QoQ during the same period.
• The company's operating profit increased by 90.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.5% in 1QFY22 as against 14.7% in 4QFY21.
• Net profit for the quarter increased by 170.5% QoQ, while net profit margins increased from 5.6% in 4QFY21 to 13.9% in 1QFY22.

To see how TRIDENT has performed over the last eight quarters,please visit here.

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TRIDENT Share Price Performance

Over the last one year, TRIDENT share price has moved up from Rs 6.7 to Rs 21.1, registering a Gain of Rs 14.4 or around 213.1%.

Overall, the S&P BSE SENSEX is up 44.9% over the year.

Current Valuations

At the current price of Rs 21.1, the price to earnings (P/E) ratio of TRIDENT stands at 21.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.2 times.