Page Industries Q4 results: Jockey, Speedo products maker's shares nosedive 10%; here's what's worrying investors

Page Industries shares were locked in the 10 per cent lower circuit in early deals on Friday, a day after the company, which manufactures and markets Jockey and Speedo brands in India, reported a weak set of Q4 results.  

Page Industries Q4 results: Jockey, Speedo products maker's shares nosedive 10%; here's what's worrying investors

Page Industries shares were locked in the 10 per cent lower circuit in early deals on Friday, a day after the Bengaluru-based company — which manufactures and markets products under brands Jockey and Speedo in India —  reported a weak set of Q4 results, missing analysts' estimates.

After market hours on Thursday, Page Industries reported a 58.9 per cent in net profit to Rs 78.4 crore for the quarter ended March 2023 compared with the corresponding period a year ago. Its quarterly revenue came in at Rs 969.1 crore as against Rs 1,111.1 crore for the year-ago period, according to a regulatory filing.

According to Zee Business research, Bengaluru-based Page Industries – whose popular products include a range of innerwear, loungewear, socks, and swimwear – was estimated to report a quarterly net profit of Rs 120 crore and revenue of Rs 1,100 crore. Read more on Page Industries Q4 results

Page Industries shares — traded on the bourses with the symbol PAGEIND — were locked in the lower circuit with a loss of Rs 4,114 at Rs 37,025.6 apiece on BSE.  

(This story will be updated shortly)

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Written By: ZeeBiz WebTeam
Updated: Fri, May 26, 2023
09:35 AM IST
New Delhi, ZeeBiz WebDesk
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