Page Industries Ltd's Q2FY19 standalone net profit rises 10.2% yoy to Rs93cr : Misses Estimates

The company’s standalone revenue stood at Rs691cr, up 10.4% yoy but down 15.3% qoq.

Nov 14, 2018 08:11 IST India Infoline Research Team

Page Industries Ltd Q2FY19

Standalone Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
Revenue 690.76 10.4
EBITDA 142.83 11.2
EBITDA Margin (%) 20.7 15
Net Profit (adjusted) 92.63 10.2
***EBITDA margin change is bps

Page Industries Ltd’s revenue grew by 10.4% yoy and declined 15.3% qoq to Rs691cr. EBITDA came in at Rs143cr, up 11.2% yoy and down 24.5% qoq. EBITDA margin expanded by 15bps yoy and contracted by 254bps qoq to 20.68%.  Adjusted PAT increased by 10.2% yoy and declined 25.6% qoq to Rs93cr. Adjusted PAT came below estimate of Rs111cr. 

• Cost of goods sold stood at 42.2% of sales vs. 42.3%.
• Employee benefit expenses stood at 17.2% of sales vs. 17.1% yoy.
• Other expenses stood at 20% of sales vs. 20.1% yoy.
• Other income for the quarter stood at Rs11cr vs. Rs5cr yoy, however on the other hand tax rate for the quarter stood at 34.8% vs. 31.6% yoy.

Technical View:

Page Industries Ltd is currently trading at Rs. 27,716.45, down by 1341.7 points or 4.62% from its previous closing of Rs. 29,058.15 on the BSE.
The scrip opened at Rs. 29,165.75 and has touched a high and low of Rs. 29,259.80 and Rs. 27,579.65 respectively. So far 56,937 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.

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