read on the app
Shares of Page Industries, a company that manufactures underwear under the Jockey brand, fell sharply on Friday. The company’s shares have lost more than Rs 6100 in a single day. Shares of Page Industries are trading at Rs 35,015.70 on the BSE on Friday, down about 15 per cent. The shares of the company closed at Rs 41,139.50 on Thursday. This sharp fall in the shares of Page Industries has come after the March 2023 quarter results.
Company’s profit decreased by 59%, revenue also declined
In the January-March 2023 quarter, the profit of Page Industries decreased by 59% to Rs 78 crore. Amul had posted a profit of Rs 190 crore in the same period a year ago. At the same time, the profit of Page Industries decreased by 37% on a quarterly basis. The company had a profit of Rs 124 crore in the December 2022 quarter. The company’s revenue has also declined by 13% in the March 2023 quarter and stood at Rs 969 crore. The company’s revenue was Rs 1111 crore in the same period a year ago.
Also read- This IPO can make a profit of Rs 60! last day to invest
The company is also giving an interim dividend of Rs 60.
Page Industries has also declared a fourth interim dividend of Rs 60 per share for the financial year 2022-23. The company has fixed the record date for payment of interim dividend as June 2, 2023. The company will pay the dividend on or before June 23, 2023. Rajesh Bhosle, Equity Technical and Derivatives Analyst, Angel One, says that investors should avoid this stock for the time being, as there could be further weakness in it. The 52-week high level of Page Industries shares is Rs 54262.30. At the same time, the 52-week low level of the company’s shares is Rs 34968.60.
Also read- This small company is giving 1 bonus share for every share, shares have climbed 106%
Disclaimer: Information about the performance of the stock is given here only, it is not an investment advice. Investment in share market is subject to risk and you should consult your advisor before investing.
