Page Industries share price: Page Industries soars 7% as apparel maker revenue and net profit surge in fourth quarter

NEW DELHI – Shares of jumped 7.3% in early trading on Friday as the clothing maker reported a 64.86% rise in net profit to Rs 190.52 crore for the fourth quarter ended March 31 2022.

The company had recorded a net profit of Rs 115.56 crore during the January-March period a year ago.

The Page Industries certificate reached a high of Rs 44,723.15 against Rs 41,665.15 at the previous close on BSE. The stock last traded 5.8% higher.

The company’s EBITDA rose 57% to Rs 267.1 crore in the fourth quarter last year from Rs 169.8 crore a year ago, according to reports.

EBITDA margin improved to 24% in Q4 FY22, from 19.3% in Q4 FY21, driven by improved operational efficiency.

On an annual basis, the company recorded a 57.5% increase in net profit to Rs 536.53 crore on a 37.2% increase in operating income to Rs 3,886.46 crore during in FY22 versus FY21, according to reports.

Cash and cash equivalents stood at Rs 283.5 crore as of March 31, 2022, compared to Rs 435 crore as of March 31, 2021. Page said liquidity remained strong thanks to strong cash flow management.

“As we are reporting our best year with our highest ever revenue and PAT, I am pleased to share that sales momentum has accelerated significantly across all of our product categories, supported by the expansion of our portfolio and our existing network. We are well placed on a growth trajectory and remain optimistic about achieving long-term sustainable growth,” said Sunder Genomal, Managing Director of Page Industries, quoted in reports.

Comments are closed.