Due to lower output commodity prices and lower sales, the business recorded an EBITDA of Rs 6,975 crore for the April–June period, a 35% decrease from Rs 10,741 crore in the same time last year.
Operating revenue for the period dropped just 1%, to Rs 1,423 crore in the June quarter.
Recommendation: Add; Target Price: Rs 1050
In comparison to the same quarter last year, the companies have seen a sharp decline in workforce addition.
Outperformance was starker in Ebitda with Page recording a 4 year Ebitda Cagr of 8.7% vs. 4-12% decline for its peers.
According to the National Stock Exchange's (NSE) bulk deal statistics, BNP Paribas Arbitrage purchased 88,85,979 shares or 0.5% of the private lender.
Brent crude futures had fallen 41 cents, or 0.5%, to $80.66 per barrel. American West Texas Intermediate crude was down 37 cents or 0.5% at $76.70 a barrel.
Petrol and Diesel prices in cities across India on 24-07-2023
Spot gold increased 0.051 to $1,961.27 per ounce. Nearly 0.3% was earned by gold last week. American gold futures decreased 0.2% to $1,963.10.
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