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Page Industries share hits 52-week high as Q3 profit rises 77%

BusinessToday.In     February 10, 2021

Page Industries share hit a fresh 52 week high after the firm reported 77% rise in its Q3 net profit. Page Industries stock rose up to 6.71% to Rs 32,372 , a fresh 52 week high, on BSE.

Market cap of the firm rose to Rs 33,721 crore on BSE. At 3:02 pm, the stock was trading 5.08% or Rs 1541 higher at Rs 31,877. Page Industries share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Later, the share closed 5.29% higher at Rs 31,939.

The stock has gained 33.19% in one year and gained 15.45% since the beginning of this year. The company reported a 77 per cent rise in its Q3 profit to Rs 153.7 crore against Rs 87 crore in Q3FY20 .

The firm reported a 39 per cent growth in net profit on QoQ basis.

Revenue rose 17 per cent YoY to Rs 927.1 crore (25% QoQ) compared to Rs 794 crore in the same quarter last year.

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"We continue to strengthen management with the best talent and invest in digital transformation, technology and innovation in product design and development, marketing and brand building. There is also renewed focus in becoming more efficient and optimal in all aspects of the business, while at the same time taking care to eliminate any wasteful spend or activity," Sunder Genomal, Page MD said.

PAT margins at 17%, aided by growth in revenues, coupled with efficient control on operating costs. "As of now, more than 94% of our Multi-Brand Outlets, 100 per cent of our EBOs and 93 per cent of our Large Format Stores are fully functional," said the company. 

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