Page Industries Q2 FY24 results: profit falls by 7.31% YOY | Mint
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Business News/ Companies / Company Results/  Page Industries Q2 FY24 results: profit falls by 7.31% YOY
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Page Industries Q2 FY24 results: profit falls by 7.31% YOY

Page Industries Q2 FY24 results: Revenue decreased by 10.35% YoY & profit decreased by 7.31% YoY

Page Industries Q2 FY24 ResultsPremium
Page Industries Q2 FY24 Results

Page Industries, the leading company in the apparel industry, announced its financial results for the second quarter of fiscal year 2024 on 09 Nov, 2023. The company witnessed a decline in its topline as the revenue decreased by 10.35% compared to the same period last year. In addition, the profit also decreased by 7.31% year-on-year.

When compared to the previous quarter, Page Industries experienced a decline in both revenue and profit. The revenue declined by 9.27% and the profit decreased by 5.1%.

The selling, general, and administrative expenses of Page Industries showed a decline of 2.38% quarter-on-quarter and a decrease of 11.43% year-on-year. This reduction in expenses indicates the company's efforts to optimize its operations.

The operating income of Page Industries also witnessed a decline, with a decrease of 5.42% quarter-on-quarter and 4.63% year-on-year. This decline in operating income reflects the challenges faced by the company in the current market scenario.

The earnings per share (EPS) for the second quarter of fiscal year 2024 stood at 134.73, showing a decrease of 7.31% year-on-year. This decrease indicates a decline in the company's profitability.

In terms of stock performance, Page Industries delivered a return of 0.26% in the last week. However, the company has experienced negative returns of -9.73% in the last six months and -12.02% year-to-date (YTD). This underperformance in the stock market may raise concerns among investors.

As of 11 Nov, 2023, out of the 21 analysts covering Page Industries, 4 analysts have given a Strong Sell rating, 5 analysts have given a Sell rating, 5 analysts have given a Hold rating, 4 analysts have given a Buy rating, and 3 analysts have given a Strong Buy rating. This mixed opinion among analysts indicates the uncertainty surrounding the company's future prospects.

The consensus recommendation as of 11 Nov, 2023, was to Hold the stock. This recommendation suggests that investors should wait for further developments and evaluate the company's performance before making any investment decisions.

Page Industries has also declared an interim dividend of 75.0. The record date for the dividend is 18 Nov, 2023, and the ex-dividend date will be 17 Nov, 2023. This dividend announcement may attract investors who are seeking regular income from their investments.

Page Industries Financials

PeriodQ2 FY24Q1 FY24Q-o-Q GrowthQ2 FY23Y-o-Y Growth
Total Revenue1125.131240.03-9.27%1255.02-10.35%
Selling/ General/ Admin Expenses Total203.78208.74-2.38%230.08-11.43%
Depreciation/ Amortization24.6521.01+17.33%18.82+30.95%
Total Operating Expense916.241019.18-10.1%1035.98-11.56%
Operating Income208.9220.86-5.42%219.04-4.63%
Net Income Before Taxes199.38210.01-5.06%212.54-6.19%
Net Income150.28158.36-5.1%162.13-7.31%
Diluted Normalized EPS134.73141.98-5.11%145.36-7.31%

FAQs

Question : What is the Q2 FY24 profit/Loss as per company?

Ans : ₹150.28Cr

Question : What is Q2 FY24 revenue?

Ans : ₹1125.13Cr

Stay updated on quarterly results with our results calendar

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Published: 11 Nov 2023, 02:12 AM IST
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