Page Industries Limited shares fall 7% after Q3 result:
To begin with, today, Page Industries Limited declined by around 7% in intraday trade. On 13th Feb, the company announced the net profit of Rs 87.02 cr with a loss of 14.59% by the dec ending quarter. The loss occurred due to the higher expenditure.
The company’s total expenditure raised by 16.24% and reached Rs 680.38 from last year. Similarly, the total income increased to Rs 797.28 cr from Rs 747.81 cr in last year’s current quarter.
The EBITDA decreased to Rs 135.30 cr with a loss of 16.50%. The margin declined to 17% comparatively 22% in the last year. The profit after tax partially declined due to enhanced investments in sales and marketing.
The scrip declined by 7.98% and reached to Rs 21,650 in trade. Besides, the Sensex and Nifty trading with a bearish trend today (Feb 14th), The Sensex trading with a loss of 184.94 points reached 41,274.85 with 0.45% down. Whereas Nifty trading with a loss of 60.15 points reached 12,114.60 with 0.49% down.
Also, the company announced Rs 58 per eq share for the interval dividend. The payment of the record date on 22nd Feb. By the ending of Dec 2019, the total worth of the company reached Rs 869.8 cr with zero debts.
The company continuing to expand its business sequentially. The company having the whole licensee of JOCKEY International Inc (USA) for manufacturing, distribution, and marketing of the JOCKEY brand in India. It also has a license in Sri Lanka, Bangladesh, Nepal, Oman, Qatar, and UAE.