Trident Group, a terry towel and wheat straw-based paper manufacturer, reported revenue decline to ₹47,276.7 million in fiscal 2020 ended on March 31, 2020 compared to ₹52,486.0 million in previous fiscal. Net profit before the tax were ₹4,210.4 million (FY19: ₹5,501.6 million). Textiles revenue were down to ₹38,058.1 million (₹42,519.7 million).
The paper & chemicals segment revenue during FY20 were down to ₹9,225.4 (₹9,970.2 million).
The group also reported its fourth quarter (Q4) FY20 revenue which fell to ₹9,912.2 million (Q4 FY19: ₹14,183.1 million). Revenue for textiles segment in Q4 were ₹7,774.3 million (₹11,336.8 million). Paper and chemicals segment revenue dropped to ₹2,140.1 million (₹2,740.1 million). Net Profit before taxes during the quarter were ₹435.9 million (Q1 FY19: ₹1,469.1 million). Net profit after the tax for FY20 were ₹3,397.0 million (₹3,717.7 million). Total comprehensive income during the year were ₹2,917.4 (₹4,043.4 million).
The group stated that the Covid-19 has impacted the normal business operations of the company by way of interruption in production, supply chain disruption, unavailability of personnel, closure/lock down of production facilities, during the lock-down period which has been extended till May 17, 2020.
However, production and supply of goods has commenced during the month of April 2020 on various dates at all the manufacturing locations of the company after obtaining permissions from the appropriate government authorities.
