Page Industries tumbles ~9% on lacklustre numbers in Q4

26 May 2023 , 01:38 PM

Page Industries reported a 59% y-o-y drop in net profit to Rs 78 crore for the March quarter on Thursday. In the same period last year, the company reported a net profit of Rs 190 crore.

Net profit of the company fell 37% on a Q-o-Q basis from Rs 124 crore reported in the December quarter.

Following the results announcement, Page Industries’ stock nosedived to hit a new 52-week low of Rs 34,952.65 per piece. However, later on in the day, it recovered some of the losses.

At around 1.24 PM, Page Industries was trading at Rs 37,228, against the previous close of Rs 41,120.75 on NSE.

Meanwhile, revenue from operations was Rs 969 crore in the March quarter under review, a 13% y-o-y decrease from Rs 1,111 crore in the same quarter last year.

Company reported an Operating EBITDA of Rs 134 crore in the fourth quarter, down 50% from Rs 267 crore in the previous quarter, registering a decline of 30% y-o-y.

The board of directors of the company has also announced 4^th interim dividend of Rs 60 per equity share for the fiscal year 2022-2023. The record date for the payment of the interim dividend is fixed at June 2, with payment on or before June 23.

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