Currently, Trent is the top gainer on the BSE, posting a gain after 9 consecutive days of decline. It hit an intraday high at Rs.424, rising over 6.5%.
The market, on the lookout for midcap stocks in a falling market seems to have swooped on this one post its flat Q1FY20 numbers.
The company posted a consolidated 30% (YoY) rise in net revenue at Rs.800 crore and net profit was at Rs.36 crore, almost same as previous Q1.
The company has explained that during the quarter it adopted Ind AS 116 ".Leases", and applied the same to all applicable lease contracts existing on April 1, 2019 using the modified retrospective cumulative method allowed under the standard. The net effect of this adoption is that the consolidated profit before tax for the period was lower by Rs.11 crore.
Its equity stands at Rs.1663 crore and EPS is at Rs.1.13(FV of Re.1).