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Indian home textiles firm Trident clocks triple digit growth in profit

26
Oct '21

Pic: Trident Group

Trident Limited, a vertically integrated textile (yarn, bath and bed linen) and paper (wheat straw-based) manufacturer, has reported a 42.4 per cent revenue growth to ₹16,726.7 million in the second quarter (Q2) of FY22 ended on September 30, 2021, over the corresponding period of previous fiscal. Profit after tax shot up 128.3 per cent to ₹2,288.0 million (Q2 FY21: ₹1,002.4 million).

“We have continued the positive momentum from the previous quarter and delivered the best performance in the second quarter,” Rajinder Gupta, chairman at Trident Group, said in a press release.

The Indian home textiles firm’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the three-month period grew 81.9 per cent to ₹4,129.2 million (₹2,269.5 million). EBIT (earnings before interest and taxes) accelerated 126.8 per cent to ₹3,262.0 million (₹1,438.5 million).

By segment, sales from textile business went up 42 per cent to ₹14,067 million (₹9,908 million), while paper segment also recorded 42 per cent jump to ₹2,560 million (₹1,809 million) during Q2.

Moreover, the company also mentioned that it started the commercial production of yarn in new spinning unit with a capacity of 61,440 spindles and 480 rotors on July 27, 2021.

“The company is committed to embark inclusive growth for all its stakeholders and continuing to excel in future,” Gupta concluded.

Fibre2Fashion News Desk (JL)

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