Rs 60/Share Dividend: Apparels Company Reports 59% YoY Fall In Net Profit

Large cap company operating in Apparels sector, Page Industries Ltd on Thursday declared 59% YoY fall in its net profit to Rs 78 crore for the fourth quarter ended March against Rs 190 crore reported in the same quarter of last year. The board of directors of Page Industries declared fourth interim dividend of Rs 60 per equity share. Page Industries share witnessed 0.29% fall to close at Rs 41139.50 apiece. Check details below:

Page Industries Ltd Declares Dividend: According to the BSE filing, "We further inform you that the Board of Directors of the Company at their meeting held today (i.e., 25 May 2023) has declared 4th Interim Dividend 2022-23 of Rs. 60 /- per equity share."

Page Industries Q4: The company's net profit registered a fall of 37% on a sequential basis from Rs 124 crore announced in the December quarter. Meanwhile, revenue from operations declared at Rs 969 crore for the March quarter, down 13% against Rs 1,111 crore announced in the corresponding quarter of last year.

"Although the company experienced some impact on profitability due to higher inventory levels acquired during an inflationary period and lower than optimal capacity utilization, we taken several steps to address these issues," said VS Ganesh, MD, Page Industries.

Page Industries Ltd Stock Performance & Return: Last trading price of Page Industries is Rs 41139.50 per share on BSE. The stock's 52-week high price is Rs 54,262.30 apiece and 52-week low price is Rs 35,600.00 per share, respectively. The company's market capitalisation is Rs 45,886.48 crore. Page Industries share fell a little less than 1% in last 1-year, gave 30% return in last 2-years, and 127% return in last 3-years.

About: Page Industries Limited located in Bangalore, India is the exclusive licensee of JOCKEY International Inc. (USA) for manufacture, distribution and marketing of the JOCKEY® brand in India, Sri Lanka, Bangladesh, Nepal and the UAE. Page Industries is also the exclusive licensee of Speedo International Ltd. for the manufacture, marketing and distribution of the Speedo brand in India, according to its official website.