InvestorQ : Why did Trident reported such a sharp fall in profits in the Jun-20 quarter?
Priyanka N made post

Why did Trident reported such a sharp fall in profits in the Jun-20 quarter?

Answer
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NISHA Nayak answered.
3 months ago


Trident reported 91.7% fall in net profits to Rs.10.11 crore for the Jun-20 quarter due. This was largely on account of disruptions caused by COVID-19. Even the revenues from operations of the company were down 46% at Rs.709 crore. COVID-19 impacted normal business via output interruptions, supply chain disruptions, unavailability of labour.

Of course, due to the sharp contraction in business volumes of Trident, its expenses also fell sharply to Rs.701 crore in the Jun-20 quarter as compared to Rs.1131 crore in the year ago quarter. Trident is a company based out of the state of Punjab in North India and it predominantly in business segments like home textiles, yarns, papers and energy.