Shares of Page Industries settled with marginal gains on Friday after the apparel manufacturer posted a multi-fold jump in the first quarter net profit.
On BSE, the company’s share settled 0.14 percent up at Rs 49,192.60 apiece. It opened on a strong note at Rs 49,799.95, then gained momentum to touch its 52-week high of Rs 50,338.05, registering a jump of 2.47 percent, during the day.
The scrip ended the day on NSE at Rs 49,162.35 apiece, up 0.31 percent from the previous close.
On Thursday, Page Industries Ltd (PIL) reported a multi-fold increase in its net profit to Rs 207.03 crore for the quarter ended June.
The company had posted a net profit of Rs 10.94 crore during the April-June period a year ago.
Its revenue from operations during the quarter under review was Rs 1,341.26 crore, up over two-fold compared to a lower base of the pandemic-impacted Q1 FY22.
PIL is the exclusive licensee of Jockey International Inc (USA) for manufacture, distribution, and marketing in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan, and the UAE. It is also the exclusive licensee of Speedo International for the Indian market.