New Delhi, July 18 (PTI) Trident Ltd on Saturday reported 91.7 per cent decline in consolidated net profit at Rs 10.11 crore for June quarter due to disruptions caused by COVID-19.

The company posted a net profit of Rs 122.43 crore in April-June 2019-20, Trident said in a BSE filing.

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Revenue from operations was down 46 per cent to Rs 708.54 crore as against Rs 1,312.15 crore in the year-ago period.

“COVID-19 has impacted the normal business operations of the company by way of interruption in production, supply chain disruption, unavailability of personnel, closure/lockdown of production facilities etc. during the lockdown period and to an extent even subsequent to lifting/easing of lockdown restrictions,” the company said.

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As a result of lockdown, the volumes of April and May were impacted.

“The decrease is primarily due to COVID-19 related market volatility during the current quarter. Therefore, results for Quarter 1 of 2020-21 are not comparable to previous corresponding period results,” the company said. 

Trident's total expenses were at Rs 700.95 crore in June quarter as against Rs 1,130.90 crore earlier.

Punjab-based Trident operates in segments as home textiles, yarns, papers and energy. 

Its revenue from textiles was at Rs 586.30 crore, down 44.90 per cent from the year-ago period.

Paper and chemicals segment's revenue was down 50.69 per cent to Rs 122.31 crore during the quarter.

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