TRIDENT Announces Quarterly Results (4QFY20); Net Profit Down 57.3%

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TRIDENT Announces Quarterly Results (4QFY20); Net Profit Down 57.3%
Tue, 19 May

TRIDENT has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

TRIDENT Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m14,05411,3049,905-12.4%-29.5%
Other incomeRs m1119768-30.1%-38.9%
TurnoverRs m14,16511,4019,973-12.5%-29.6%
ExpensesRs m11,4659,3778,453-9.9%-26.3%
Gross profitRs m2,5891,4401,4520.8%-43.9%
DepreciationRs m886822815-0.9%-8.0%
InterestRs m34323427818.5%-19.0%
Profit before taxRs m1,471480427-11.2%-71.0%
TaxRs m5456131-49.3%-94.3%
Profit after taxRs m926419396-5.6%-57.3%
Gross profit margin%18.412.714.7
Effective tax rate%37.112.77.3
Net profit margin%6.53.74.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 29.5% on a year-on-year (YoY) basis. The expenses were down by 26.3% YoY during the same period.
  • The company's operating profit declined by 43.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.7% in 4QFY20 as against 18.4% in 4QFY19.
  • Depreciation charges declined by 8.0% and finance costs declined by 19.0% YoY, respectively.
  • Other income declined by 38.9% YoY during the quarter.
  • Net profit for the quarter declined by 57.3% YoY. Net profit margins during the quarter declined from 6.5% in 4QFY19 to 4.0% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 12.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 9.9% QoQ during the same period.
  • The company's operating profit increased by 0.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.7% in 4QFY20 as against 12.7% in 3QFY19.
  • Net profit for the quarter declined by 5.6% QoQ, while net profit margins increased from 3.7% in 3QFY19 to 4.0% in 4QFY20.

To see how TRIDENT has performed over the last eight quarters,please visit here.

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TRIDENT Share Price Performance

Over the last one year,TRIDENT share price has moved down from Rs 6.1 to Rs 4.8, registering a Loss of Rs 1.3 or around 21.4%.

Overall, the S&P BSE SENSEX is down 22.1% over the year.

Current Valuations

At the current price of Rs 4.8, the price to earnings (P/E) ratio of TRIDENT stands at 7.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.

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For the quarter ended September 2020, TRIDENT has posted a net profit of Rs 1 bn (down 26.9% YoY). Sales on the other hand came in at Rs 12 bn (down 11.3% YoY). Read on for a complete analysis of TRIDENT's quarterly results.

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