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Page Industries Q2 Results: Net profit jumps 45%, beats Street estimates; revenue up 46%

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Bengaluru-based Page Industries posted a strong set of quarterly numbers. The company's net profit jumped 44.7 percent on year to Rs 160.5 crore for the July-September period.

Page Industries Q2 Results: Net profit jumps 45%, beats Street estimates; revenue up 46%
Garments maker Page Industries on Thursday reported a net profit of Rs
160.5 crore for the quarter ended September, beating Street estimates by a wide margin. The net profit was up 44.7 percent on a year-on-year basis.
Bengaluru-based Page Industries' revenue increased 46.4 percent to Rs 1,084 crore for the three-month period, compared with that of Rs 740.3 crore in the corresponding period a year ago.
Analysts in a CNBC-TV18 poll had estimated the company's quarterly net profit at Rs 119 crore over revenue of Rs 872.7 crore.
“As we announce our highest-ever revenue and PAT this quarter, we remain confident to deliver on the long-term growth prospects of the company. I am pleased to share that the sales momentum has picked up significantly after the setbacks of the global pandemic," said Sunder Genomal, Managing Director, Page Industries.
The company saw increased momentum in sales across product categories backed by expansion in its portfolio and its existing network, Genomal added.

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The company's earnings before interest, taxes, depreciation and ammortisation (EBITDA) rose 41.1 percent on year to Rs 233.4 crore, as against estimates of Rs 177.6 crore.
Its EBITDA margin -- a key metric -- came in at 21.5 percent in the July-September period, as against 22.3 percent in the year-ago period.
Analysts in the CNBC-TV18 poll had predicted the company's margin at 20 percent.
The company's board declared an interim dividend of Rs 150 per equity share.


Page Industries ended 0.9 percent higher at Rs 40,100 apiece on BSE after the earnings announcement. The headline Sensex index closed 0.7 percent lower, falling for the third day in a row.
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