Page Industries share price hits Rs 50,000 apiece on multi-fold rise in Q1 profit

Shares of Page Industries hit a more than Rs 50,000 apiece in the early trades on BSE on Friday after the company reported a multi-fold jump in its net profit in April-June quarter.

At 1.21 p.m., shares of Page Industries were trading at 49,103.00, up 91.00 or 0.19 per cent.

On Thursday, Page Industries reported a multi-fold increase in its net profit in Q1FY23.

The company reported net profit of Rs 207.03 crore, as against just Rs 10.94 crore in the same period last year.

The revenue from operations during the quarter under review was at Rs 1,341.26 crore.

"Riding on the back of strong sales performance and robust financial planning, despite external challenges, we have successfully delivered yet another milestone performance this quarter," said VS Ganesh, MD, Page Industries Ltd.

Total expenses of the company rose sharply to Rs 501.53 crore in Q1FY23.

EBITDA of the company stands at Rs 301.10 crore in June, which was up 697.4 per cent on-year.