Trident's Q4 profit tumbles 5.6 pc to Rs 39.6 crore

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Ludhiana (Punjab) [India], May 17 (ANI): Vertically integrated textile and paper manufacturer Trident Ltd has reported 5.6 per cent fall in its profit after tax of Rs 39.6 crore in Q4 FY20 compared to Rs 41.9 crore in the previous quarter. Total income declined by 8.6 per cent to Rs 997 crore from Rs 1,091 crore in Q3 FY20. Earnings before interest, taxes, depreciation and amortisation (EBITDA) fell by over 1 per cent to Rs 152 crore in Q4 from Rs 153.7 crore in Q3. "COVID-19 has changed everything about life and work in just a matter of a few weeks. In these challenging times, we are all navigating through uncertainty," said Chairman Rajinder Gupta in a statement. In the fiscal FY20, net revenue stood at Rs 4,724 crore, down 10.3 per cent from Rs 5,265 crore in FY19. Profit after tax stood at Rs 342 crore, down 7.8 per cent from Rs 371 crore. The finance cost for FY20 reduced to Rs 111 crore as compared to last year's cost of Rs 112 crore while net debt reduced significantly to reach a level of Rs 1,614 crore from Rs 2,344 crore in FY19. This was largely due to a decrease in working capital utilisation and increase in cash and cash equivalents. The textile segment revenue stood at Rs 3,778 crore in FY20 compared to Rs 4,223 crore in FY19. EBIT for the segment reduced to Rs 302 crore year-on-year as compared to Rs 342 crore in FY19. On the other hand, paper segment revenue stood at Rs 923 crore in FY20 compared to Rs 997 crore in FY19. EBIT stands at Rs 310 crore as compared to Rs 370 crore in FY19. (ANI)