Shares of Page Industries Ltd. rose after the maker of Jockey innerwear and Speedo swimwear managed to beat analysts’ estimates in the quarter ended September.
Net profit fell 3% year-on-year to Rs 110.8 crore in the July-September period, according to an exchange filing. That compares with Rs 69-crore consensus estimate of analysts tracked by Bloomberg.
Its revenue declined 5% over the year earlier to Rs 740.3 crore, higher than the Rs 690.2-crore forecast. The fall, according to Dolat Capital, was likely because of higher contribution of exclusive brand outlets and higher share of urban markets.
Page Industries Q2 Results 2020-21: Other Highlights (year-on-year)
- The company’s earnings before interest, tax, depreciation and amortisation rose 11% to Rs 165.3 crore, owing to lower other expenses.
- Ebitda margin expanded 310 basis points to 22.3%.
“We have seen a healthy bounce back in…